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Kassel (dpa) - The fertilizer group K + S is pushing the debt reduction with a further step.
The waste business is to be bundled with that of the Remondis subsidiary Remex in a joint venture called Reks GmbH, as the MDax group announced on Friday evening.
Both partners should then each have a 50 percent stake in Reks.
The transaction will lead to a significant book profit and a cash inflow of around 90 million euros before taxes, according to K + S.
Completion is expected in summer 2021.
The K + S Group has been working on reducing the high debt burden for some time. In addition to a series of smaller measures, the breakthrough came in the autumn with a sales announcement for K + S's US salt business. The industrial holding Stone Canyon is putting 3.2 billion US dollars on the table. The deal is also expected to be completed in summer 2021.