Abstract
Borealis has received a binding offer of $870 million for its nitrogen fertilizer business from the Czech agricultural conglomerate Agrofert. The business, which produces fertilizers and melamine, had sales of about $1.5 billion and operating profit of $110 million in 2021. Borealis had an offer of $520 million from competitor EuroChem earlier this year, but the deal fell through after Russia’s invasion of Ukraine because of that firm’s Russian connections.
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