Borealis bids to acquire Total’s shares of N-fertiliser firm

Chemicals and innovative plastics firm Borealis, has proposed to buy oil and gas firm Total’s outstanding shares of GPN SA, France’s largest nitrogen fertiliser manufacturer. The former has also made an offer to acquire Total’s entire 56.88% interest in Belgium’s Rosier SA, a mineral fertiliser manufacturer.

Borealis is already active in nitrogen fertilisers in Central Europe, as well as in France following its acquisition of PEC-Rhin SA, which had been renamed to Borealis PEC-Rhin SAS in early 2012.

Fertilisers are a non-strategic business for Total.

Borealis' offer for GPN includes clear undertakings to continue operations and to maintain jobs at the company’s production facilities and headquarters. This as well as the Rosier offer will be presented to the employee representatives concerned, as part of the information and consultation procedures.

The transaction is subject to approval by the relevant competition authorities. Grande Paroisse SA, which carries all the liabilities of AZF in Toulouse, is not covered by the planned acquisition.


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