According to Reuters, Potash Corp. of Saskatchewan Inc. has hired Goldman Sachs and BofA Merrill Lynch to explore selling its stake (32%) in Chile’s Sociedad Quimica Y Minera (SQM).
SQM, which is one of the largest lithium producers in the world, has not provided any comment.
Reportedly, this latest development comes as Potash Corp. looks to merge with another fertilizer company, Agrium Inc.
On 7 September, Reuters reports that both companies were informed by regulators in China and India that they needed to divest Potash’s offshore interests in order for the merger to gain approval.
Randy Burton – a spokesman for Potash Corp. – reportedly said that it would not be appropriate to speculate on divestitures or any other terms and conditions.