Fertilizer Merger Approved in India

October 20, 2017 02:02 PM
 
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Potash and Agrium recently received conditional merger approval in India. Approval came after the Competition Commission of India’s (CCI) review.

For the merger to go through, CCI is requiring Potash Corporations to divest its minority shareholdings in Arab Potash Company, Israel Chemicals, Ltd. and Sociedad Quimica y Minera de Chili S.A. This must be completed within 18 months of the issuance of the order—the merger can be completed prior to divestment, however.

The companies currently have unconditional clearance in Canada, Brazil and Russia. They are under review in U.S. and China with the expectation they’ll close the merger by the end of the fourth quarter of 2017.

Together the companies will generate $500 million in annual operating synergies with head office in Saskatoon, Canada. Upon closing the merger the combined company will be named Nutrien and says it will be the largest crop nutrient company in the world.

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