Borealis sells stake in Belgian fertiliser company Rosier to Dutch-Turkish group

Austrian chemical company Borealis is selling its shares in Belgian fertiliser company Rosier to holding company Yilfert, part of Dutch-Turkish group Yildirim.

Borealis and Yilfert have signed a binding agreement to transfer Borealis' shares in Rosier, the companies announced in a press release. The offer values Rosier at 35 million euros, equivalent to 11.65 euros per share.

The Austrian chemical company currently owns 98.09 per cent of the shares in the fertiliser company. Earlier, Borealis had announced its intention to launch a buyout offer for the remaining shares at 20 euros per share.

Yildirim is a Dutch-Turkish industrial conglomerate headquartered in Istanbul.

Hainaut-based Rosier had already been struggling in recent years and even found itself in acute financial distress due to the war in Ukraine.

 

© BELGA PHOTO

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