As part of its pledges to regulators who approved the merger between PotashCorp and Agrium, Nutrien is selling minority stakes in both SQM and Arab Potash. Nutrien holds a 32% stake in SQM, and a stake of approximately 28% in Arab Potash. According to the Bank of Montreal, the sale of both stakes is expected to generate net proceeds of $3.8 billion.
Chuck Magro, Chief Executive, reportedly said: “We have buyers for both.
“It’s a pretty active process now and so they’re going through all those stages they normally go through to look at the assets and do their due diligence.
“Things can take very different turns, but our perspective is things are going very well today.”
Reuters reports that Magro refused to comment on the number of parties considering a purchase of each stake.
According to Reuters, Chief Financial Officer, Wayne Brownlee, said that Nutrien could sell the Arab Potash stake in 2Q18, and that the company is planning to sell the SQM stake at some point this year. However, he added that timing is difficult to predict due to the role of regulators in approving any deals.
Read the article online at: https://www.worldfertilizer.com/potash/07022018/nutrien-in-talks-to-sell-stakes-in-sqm-and-arab-potash/
You might also like
thyssenkrupp Uhde Egypt has signed a contract with Egypt-based Delta Company for Fertilizer and Chemical Industries to revamp an existing ammonia plant complex located in Dakahlia, Talkha, Egypt.