K+S sells Americas salt business for $3.2bn
German minerals company K+S Aktiengesellschaft has agreed to sell its Americas salt business to industrial holding company Stone Canyon Industries, Mark Demetree and affiliates for $3.2-billion.
The Americas operating unit mainly comprises K+S Chile, formerly known as the Chilean company, acquired in 2006, as well as Morton Salt (USA) and K+S Windsor Salt (Canada), acquired in 2009.
The sale, K+S chairperson Burkhard Lohr said, formed part of a package of measures announced in December 2019 to reduce the group’s debt by more than €2-billion by the end of 2021. The transaction announced on Tuesday would help to reduce debt even more significantly.