Germany's K+S acquires Qemetica's salt unit for up to $380 million (updated)
UPDATE 1-Germany's K+S acquires Qemetica's salt unit for up to $380 million Adds details on the acquisition in paragraph 3, context in paragraph 4
June 2 (Reuters) - Germany-based potash and salt miner K+S SDFGn.DE said on Tuesday it will acquire Polish chemicals firm Qemetica's salt business.
The company said it would pay €350-380 million ($408-443 million), subject to the unit's performance in 2026 and 2027.
The deal values Qemetica's salt business at around seven times the unit's annual core earnings.
The takeover marks K+S's largest acquisition in 15 years, following its 2011 purchase of Canada-based Potash One for $428 million.
The transaction is expected to close in the first quarter of 2027.
($1 = 0.8587 euros)
(Reporting by Tristan Veyet in Gdansk, Patricia Weiss in Frankfurt, Editing by Friederike Heine)
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