EANS-News: K+S Aktiengesellschaft / EuroChem to Acquire K+S Nitrogen
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Company Information/K+S Aktiengesellschaft
Kassel (euro adhoc) – Joint Press Release
Kassel / Moscow, 8 May 2012
EuroChem to Acquire K+S Nitrogen
K+S Aktiengesellschaft has signed an agreement with EuroChem
regarding the sale of K+S Nitrogen, one of the leading suppliers of
nitrogenous fertilizers.
The transaction, with an enterprise value of EUR 140 million for K+S
Nitrogen, is likely to be closed at the end of the second quarter of
2012. The effective economic date of the transfer is 31 March 2012.
The sale is subject to a number of factors, including approval by
the EU antitrust authority.
For K+S, the sale will generate a book profit of around EUR 70 to
80 million, depending on the net earnings of K+S Nitrogen
generated by the time the transaction is closed together with
other effects. From now on, K+S Nitrogen will be stated as a
„discontinued operation“. In financial year 2011, K+S Nitrogen
generated revenues of EUR 1,156.8 million and operating earnings
EBIT I of EUR 69.4 million.
„We are pleased to have found a well-suited new owner for K+S
Nitrogen in EuroChem. Against the backdrop of the recently concluded
sale of the fertilizer activities of BASF in Antwerp, the sale to
EuroChem is the best option from the perspective of K+S, but also of
the employees of K+S Nitrogen,“ says Norbert Steiner, Chairman
of the Board of Executive Directors of K+S
Aktiengesellschaft. „I would like to express my particular
thanks to the employees of K+S Nitrogen for their extraordinary
commitment in recent years,“ Steiner continues.
EuroChem CEO Dmitry Strezhnev commented: „K+S Nitrogen is a natural
extension to our recently acquired EuroChem Antwerpen
operations. This acquisition provides us with a world-renowned
platform while further securing our competitiveness in key
markets worldwide. We welcome the highly skilled staff of K+S
Nitrogen and our clients and partners may rest assured that the
high level of service they have grown accustomed to with K+S
Nitrogen will be maintained.“
The strategy of the K+S Group provides for growth in the Potash and
Magnesium Products and the Salt business segments in
particular and for focusing management resources and financial
means on this accordingly. Against this background, K+S had sold
the business activities of COMPO to the investment company
Triton last year.
About K+S Nitrogen K+S Nitrogen markets nitrogenous fertilizers with
a focus on major customers in agriculture and special crops such
as fruits, vegetables and grapes. In addition to the fertilizers
produced by EuroChem Antwerpen and delivered by
BASF for it, K+S Nitrogen also markets the goods of other reputable European
fertilizer producers. The company is based in Mannheim, Germany, and employs
about 180 people worldwide. More information is available at www.ks-
nitrogen.com.
About EuroChem
EuroChem is a leading global agrochemical company, producing primarily nitrogen
and phosphate fertilizers, as well as certain organic synthesis
products and iron ore. The Group is vertically integrated with
activities spanning from mining and natural gas extraction to
production, logistics, and distribution. EuroChem is currently
developing two sizeable potash deposits in Russia with the
Gremyachinskoe (4.6 mtpa) and Verkhnekamskoe (3.4 mtpa)
greenfield projects. Please visit www.eurochem.ru for further
information.
About K+S The K+S Group is one of the world’s leading
suppliers of standard and speciality fertilizers. In the salt
business, K+S is the world’s leading producer with sites in
Europe as well as North and South America. K+S offers a
comprehensive range of goods and services for agriculture,
industry, and private consumers, which provides growth
opportunities in virtually every sphere of daily life. The K+S
Group employs more than 14,000 people. The K+S share – the
commodities stock on the German DAX index – is listed on all German
stock exchanges (ISIN: DE000KSAG888, symbol: SDF). More information
about K+S can be found at www.k-plus-s.com.
Your contact persons:
Press:
Michael Wudonig, CFA
Phone: +49 561 9301-1262
Fax: +49 561 9301-1666
michael.wudonig@k-plus-s.com
Investor Relations:
Christian Herrmann, CFA
Phone: +49 561 9301-1460
Fax: +49 561 9301-2425
christian.herrmann@k-plus-s.com
Further inquiry note:
Press:
Michael Wudonig, CFA
Telefon: +49 561 9301-1262
Fax: +49 561 9301-1666
michael.wudonig@k-plus-s.com
Investor Relations:
Christian Herrmann, CFA
Telefon: +49 561 9301-1460
Fax: +49 561 9301-2425
christian.herrmann@k-plus-s.com
end of announcement euro adhoc
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company: K+S Aktiengesellschaft
Bertha-von-Suttner-Straße 7
D-34131 Kassel
phone: +49 (0)561 9301-1460
FAX: +49 (0)561 9301-2425
mail: christian.herrmann@k-plus-s.com
WWW: http://www.k-plus-s.com
sector: Chemicals
ISIN: DE000KSAG888
indexes: DAX, Midcap Market Index, CDAX, Classic All Share, HDAX, Prime All
Share
stockmarkets: regulated dealing: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English