Borealis, a provider of chemical and plastics solutions, has announced that it has made an offer to GPN to buy France-based PEC-Rhin in its entirety.
PEC-Rhin, equally owned by GPN and BASF, produces nitrogen fertilisers, ammonia and nitric acid at its site in Ottmarsheim, France.
The deal is subject to the approval of the relevant antitrust authorities.
Borealis and Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company, have a total manufacturing capacity of around 5.4 million tons of polyolefins a year.
