CF Industries announces expiration of waiting period for Waggaman Ammonia Production Facility acquisition
Published by Emily Thomas,
Deputy Editor
World Fertilizer,
CF Industries Holdings, Inc. has announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with its previously announced agreement to purchase Incitec Pivot Limited’s ammonia production complex located in Waggaman, Louisiana.
The expiration of the HSR Act waiting period was a condition to the closing of the pending transaction. CF Industries and IPL expect to complete the transaction effective 01 December 2023, subject to the satisfaction of other customary closing conditions.
Under the terms of the agreement, CF Industries will purchase the Waggaman ammonia plant and related assets for US$1.675 billion. The companies will allocate approximately US$425 million of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200,000 tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics. CF Industries expects to fund the remaining US$1.25 billion of the purchase price with cash on hand.
Read the article online at: https://www.worldfertilizer.com/nitrogen/17112023/cf-industries-announces-expiration-of-waiting-period-for-waggaman-ammonia-production-facility-acquisition/
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