(Bloomberg) -- BASF SE is exploring the sale of some U.S. chemicals assets that could fetch around $400 million, as Chief Executive Officer Martin Brudermueller seeks to streamline the company’s portfolio, people familiar with the matter said.

The world’s largest chemical producer is considering the divestment of a surfactants plant in Kankakee, Illinois, that could be valued at about $250 million, according to the people, who asked not to be identified as the plans are private.

BASF is also working with an adviser to gauge interest in a kaolin business in the southern U.S. state of Georgia, the people said. Those operations could fetch at least $150 million, the people said.

Deliberations are ongoing, and no final decisions have been made on the potential disposals, according to the people. A representative for BASF declined to comment.

Under Brudermueller, BASF has been streamlining its operations. In late 2019, it agreed to sell its construction chemicals business to private equity firm Lone Star Funds for 3.2 billion euros.

BASF has also been preparing a potential stock market listing for Wintershall Dea GmbH, its oil and gas venture with billionaire Mikhail Fridman. Brudermueller said on an Oct. 28 conference call that only some smaller units are left to be divested under its current plan, and BASF has “no urgent need” to rush ahead.

Any proceeds from asset sales in the U.S. would raise funds for BASF at a time when the coronavirus pandemic is hurting demand. BASF reported a net loss of 2.1 billion euros ($2.6 billion) in the third quarter due to heavy writedowns linked to the aviation and automobile industries.

The company’s shares have fallen about 5% this year, giving it a market value of 58.7 billion euros.

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