BASF Close To Selling Large Parts Of Fertilizer Assets - Sources
08 September 2011 - 7:45PM
Dow Jones News
German chemicals maker BASF SE (BAS.XE) is close to selling
large parts of its fertilizer business, two people familiar with
the matter told Dow Jones Newswires on Thursday, confirming a
report by the news agency Bloomberg.
The remaining bidders for the assets are Norwegian fertilizer
maker Yara International ASA (YAR.OS) and Egypt Orascom
Construction Industries SAE (OCIC.CI), the people added. One of the
people said Yara was the frontrunner for BASF's fertilizer assets,
which have annual sales of around EUR500 million.
An industry expert told Dow Jones Newswires the business could
be valued around one times its annual sales, or half a billion
euros.
-By Heide Oberhauser-Aslan and Eyk Henning, Dow Jones Newswires;
+49 69 29725 108; eyk.henning@dowjones.com