AGROFERT acquires Borealis' nitrogen business, sites in Austria, Germany and France
Borealis, one of the world’s leading 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 EUR 810 million.
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 EUR 7.5 billion in 2021, the group comprises more than 200 companies and employs approximately 31 thousand 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.
Countries
Companies
Latest news
Yara to build new global plant for specialty fertilizers and biostimulants in Yorkshire, UK
The plant will allow Yara to double the capacity of its YaraVita products when the facility is expected to be operational by the end of 2025 and further expand production capacity if needed. Virtua...
OMV Petrom obtained financing through NPRR to produce green hydrogen at the Petrobrazi refinery in Brazii, Romania
Total investment value was estimated at approximately EUR 74 million, with a maximum amount of approximately EUR 39 million to be financed through the National Plan for Recovery and Resilience (NPR...
Integrated Power & Renewables: TotalEnergies Launches Its Largest European Battery Energy Storage Project in Antwerp, Belgium
A battery farm project for energy storage with a power rating of 25 MW and capacity of 75 MWh, will be operational by the end of 2024 and will help meet the needs of the European and Belgian high-...
Trinseo starts up polycarbonate dissolution pilot facility in Terneuzen, The Netherlands
Dissolution technology - the needed polymer is extracted by the use of solvents - allows effective end-of-life plastic recycling and enhances circularity