K+S nears $3B sale of Morton Salt unit to Kissner

Oct. 04, 2020 9:05 PM ETK+S Aktiengesellschaft (KPLUY)KPLUY, KPLUFBy: Carl Surran, SA News Editor1 Comment
  • German fertilizer firm K+S (OTCQX:KPLUY) is in advanced talks to sell its Morton Salt unit to Kissner Group for ~$3B, and a deal could be announced as soon as this week, Bloomberg reports.
  • K+S is selling assets after its earlier bet on a Canadian potash project backfired, weighing on earnings and sent its credit rating into junk territory.
  • The company said in March it sought to cut net debt by more than €2B by divesting the salt unit and trimming corporate functions.

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