Jul. 25, 2018
Nutrien Ltd. ("Nutrien") announced that it has entered into a definitive agreement with SDIC Mining Investment Co. Ltd. ("SDIC Mining") to sell 23,294,614 common shares of Arab Potash Company ("APC") for gross proceeds of $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.