“A minority stake in SQM is great from our perspective, especially when we look at long term growth and expectations for the lithium industry,” said Ashley Ozols, Business Development Manager for Tianqi, after the deal closed.
Tianqi struck a deal earlier this year to buy the stake from Nutrien, the company formed by the merger of Agrium and Potash Corp. of Saskatchewan. As part of that deal, Nutrien was required to sell the stake.
Nutrien has said it plans to use proceeds from selling stakes in SQM and two other companies to expand its network of farm retail stores in the United States and establish one in Brazil.
Read the article online at: https://www.worldfertilizer.com/special-reports/04122018/tianqi-completes-acquisition-of-sqm-stake-from-nutrien/