German chemical company, BASF, is planning to sell its $1.48 billion stake in potash miner, K+S, Reuters reports. BASF, which has a 10.3% stake in K+S, is seeking to place around 19.7 million shares of the company. Ludwigshafen-based BASF has appointed Bank of America Merrill Lynch to assist in the process, adds Automated Trader. BASF is also planning to sell major parts of its fertilizers business, including its 50% share of the PEC-Rhin joint venture in France.
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