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Business News » World News

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

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Updated: Thu, Sep 07, 2017
06:23 pm
Reuters
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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.)

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