German minerals miner K+S aims to agree a sale of its salt business in the Americas by the end of 2020, CEO Burkhard Lohr said on Wednesday.
The world’s largest salt producer had said in mid-March that it would sell the business, which accounts for more than one third of group sales, to reduce debt levels that had soared after its investment in a new potash mine in Canada.
K+S will only complete the sale and receive payment after 2021, but other measures it has been implementing to reduce debt should strengthen its balance sheet by more than €2-billion by that time, Lohr said at the company’s annual general meeting.