Ursula von der Leyen and Co. will also review the planned sale of Borealis’ nitrogen division to the Czech Agrofert group. In Linz alone, 700 employees work in this area.
Borealis plans to sell its nitrogen division, which employs about 700 people in Linz alone, and which also includes plant nutrients and melamine; the Czech Agrofert group wants to pay € 810 million for this and already has the commitment of Borealis! What at first glance sounds obvious, because two companies agree, turns out to be more complicated than expected. Reason: Authorities must also approve the planned deal.
And here storm clouds are gathering: The Lower Austrian Farmers’ Association is deeply concerned, has been reinforced by a German law firm that is coming with international antitrust law experts to fight “for greater security of supply and against a fertilizer monopoly”. The European Union will also take a closer look.
The EU commission, led by Ursula von der Leyen, will examine the sale of Borealis’ nitrogen division to Agrofert. “The sale is subject, among other things, to the approval of the merger control by the European Commission,” confirms Borealis. Agrofert is currently preparing the corresponding submission to the European Commission, which will eventually hear from customers, suppliers and competitors.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
