K+S has signed an agreement to sell its North and South American salt business to Stone Canyon Industries Holdings and affiliates for $3.2 billion, reported Reuters.
The closing of the transaction is expected to occur in summer 2021 and the purchase price will be paid in cash, according to the statement.
Bloomberg News previously reported the negotiations with Kissner, a producer and supplier of salt controlled by holding company Stone Canyon Industries.
K+S put its Americas salt business on the block in March as part of plans to sell its debt and focus on potash fertiliser products.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.