AGROFERT
has made a binding offer to Austria's Borealis to buy its nitrogen production
assets, including fertilizers, melamine and technical nitrogen products. The
Czech group produces nitrogen fertilizers in the Czech Republic, Slovakia and
Germany, among other countries. Agrofert valued the acquisition at EUR 810m. The
addition of the Austrian chemical company's production assets in Austria,
Germany and France, including its sales and distribution network, would
complement its existing portfolio and expand its ability to provide services
across Europe. Borealis said it would initiate mandatory disclosure procedures.
The transaction is expected to be closed in H2 2022, subject to regulatory
approvals.
Source: Daily news | ČIA news
Czech Trade and
Czech Invest Sydney