BASF Sells Shares of French Fertilizer Producer

Avatar for Posted by |23 January 2012

Ludwigshafen, Germany – BASF will sell its 50% share of French fertilizer producer PEC-Rhin to GPN, a member of the French Total Group.

PEC-Rhin is located in Ottmarsheim, France, to its joint venture partner GPN, a member of the French Total Group.

PEC-Rhin produces CAN/AN (calcium ammonium nitrate/ammonium nitrate) fertilizers and the respective intermediates, ammonia and nitric acid. The company was established in 1966 and currently has about 180 employees.

The sale of BASF’s fertilizer activities in Antwerp, Belgium to EuroChem, announced in September 2011, is ongoing as planned, subject to approval by the appropriate antitrust authorities.

The total transaction value for both deals is expected to be approximately $900 million. BASF plans to complete the transactions by the end of the first quarter of 2012.

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BASF’s fertilizer operations in Ludwigshafen are not included in the scope of the divestments.

Source: BASF, Edited by Stefanie A. Toth, Online Editor

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