India, China regulators ask Potash to sell stake for Agrium merger

Fertilizer companies Agrium Inc and Potash Corp of Saskatchewan Inc said on Thursday they were notified by regulators in India and China to divest Potash`s offshore interests for their merger approval.

Neither companies have a physical presence in India, but supply potash to the country through Canpotex Ltd, which they own with Mosaic Co.

The all-stock merger, valued at $25 billion, was announced in September last year and will bring together Potash`s crop nutrient production capacity, the world`s largest, with Agrium`s farm retail network, North America`s biggest.

The deal is now expected to close in the fourth quarter of 2018, the companies said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)