K+S receives approval to sell Americas operating unit

The company expects the closing of the sale to be around April 30, 2021

The U.S. Department of Justice has allowed the sale of the Americas operating unit, which comprises the American salt business of K+S Aktiengesellschaft, to Stone Canyon Industries, Mark Demetree and Partners to proceed.

"We are pleased that the allowance of the U.S. authority to move forward was given in a timely manner. Thus we are approaching the closing of the transaction," says Dr. Burkhard Lohr, Chairman of the Board of Executive Directors. Now that K+S no longer anticipates any antitrust hurdles, the company expects the closing of the sale to be predominantly probable from today's perspective around April 30, 2021.

Now that K+S no longer anticipates any antitrust hurdles, the company expects the closing of the sale to be predominantly probable from today's perspective around April 30, 2021. The enterprise value amounts to USD 3.2 billion. The purchase price payment of around EUR 2.5 billion will be made in cash.