VIENNA, Austria — June 2, 2022 — Borealis, providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics, has received a binding offer from AGROFERT, a.s. for the acquisition of Borealis’ nitrogen business including fertilizer, melamine and technical nitrogen products. The offer values the business on an enterprise value basis at 810 million euros.
AGROFERT is a Czech-based group active in a number of industries in the countries of Central Europe, with activities spanning from chemicals and agriculture to food production. Generating a consolidated turnover of 7.5 billion euros in 2021, the group comprises more than 200 companies and employs approximately 31,000 people. AGROFERT is also one of the leading European nitrogen fertilizer producers, with manufacturing facilities in Germany, the Czech Republic, and Slovakia.
By adding Borealis’ production assets in Austria, Germany and France as well as a comprehensive sales and distribution network utilising the Danube River, this business combination would well complement AGROFERT’s existing capabilities in serving its customers across Europe.
Borealis will initiate mandatory information and consultation procedures with employee representatives shortly. The transaction is also subject to certain closing conditions and regulatory approvals, with closing expected for the second half of 2022.
Borealis will continue to focus on its core activities of providing innovative and sustainable solutions in the fields of polyolefins and base chemicals and on the transformation towards a circular economy.
Posted: June 2, 2022
Source: Borealis
