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Nutrien announces sale of equity position in Arab Potash Company

Mining News - Published on Wed, 25 Jul 2018

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Nutrien Ltd announced that it has entered into a definitive agreement with SDIC Mining Investment Co Ltd to sell 23,294,614 common shares of Arab Potash Company for gross proceeds of USD 502 million. The announced transaction represents the entirety of Nutrien's holdings in APC.

Completion of the APC sale was required by the Competition Commission of India and Ministry of Commerce in China in providing their clearance for the merger of Agrium and PotashCorp to form Nutrien. The agreement is subject to customary closing conditions, including regulatory approvals and is expected to be completed by the fourth quarter of this year.

Meanwhile, Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute over 26 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.

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Posted By : Rabi Wangkhem on Wed, 25 Jul 2018
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