Borealis acquire Total’s nitrogen fertilizer business in France

Borealis to acquire Total’s nitrogen fertilizer business in France

4:47 AM, 7th February 2013
Borealis to acquire Total’s nitrogen fertilizer business in France
Patrick Pouyanne, President, Refining & Chemicals, Total.

 

PARIS, FRANCE: Total has received a firm offer from Borealis to acquire GPN SA, a wholly owned Total affiliate that is France’s largest nitrogen fertilizer manufacturer. The Group has granted Borealis the exclusive right to pursue the offer. Total has decided to present it, as well as Borealis’ offer to acquire Total’s 56.86 per cent interest in Belgium’s Rosier SA.

“Fertilizers are a non-core business for Total. In joining Borealis, GPN - which is well established in France and has benefited from a vast capital expenditure plan in recent years - would enjoy new growth opportunities, including in the global marketplace,” said Patrick Pouyanne, President, Refining & Chemicals, Total.

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