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Nutrien CEO comments on sale of SQM shares to Tianqi

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World Fertilizer,


Chuck Magro, Nutrien’s President and CEO, has commented on Nutrien’s sale of its remaining shares in SQM, the Chilean lithium miner, to Tianqi Lithium Corp. earlier this week.

Magro said: “Closing the sale of our investment in SQM marks the conclusion of a major deliverable for Nutrien. The receipt of US$4.1 billion in gross proceeds provides an opportunity to deploy the cash to generate significant shareholder value. With the sale of our investments in Arab Potash Company and SQM in 4Q18, along with significant seasonal cash flow generated from our retail business, we expect our net debt to adjusted EBITDA ratio to decline below 2 by the end of 2018. As a result, Nutrien has ample flexibility to both return capital to shareholders and grow the business with a disciplined investment approach.”

Net proceeds from the sale of the company’s equity investments in 2018 is expected to total approximately US$5 billion.

Read the article online at: https://www.worldfertilizer.com/special-reports/07122018/nutrien-ceo-comments-on-sale-of-sqm-shares-to-tianqi/

 

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