EuroChem, a manufacturer and supplier of fertilizers, agreed to acquire the fertilizer, melamine and technical nitrogen businesses of Borealis, a provider of advanced and circular polyolefin solutions, for $517m. The transaction is subject to certain closing conditions and regulatory approvals, with closing expected for the second half of 2022. The transaction would significantly enhance EuroChem’s nitrogen business in Europe, adding production assets in Austria, Germany and France as well as adding a comprehensive sales and distribution network utilizing the Danube river. Borealis will initiate mandatory information and consultation procedures with employee representatives shortly. On June 2, 2022, AGROFERT offers to acquire the nitrogen business of Borealis for $868m.