Agrium and PotashCorp got regulatory approval in IndiaStaff Writer | October 19, 2017
Potash Corporation of Saskatchewan and Agrium announced that India has approved their proposed merger of equals transaction.
Merger Feeding the Future
The CCI's approval will be conditioned on the parties' commitment to divest PotashCorp's minority shareholdings in Arab Potash Company, Israel Chemicals and Sociedad Quimica y Minera de Chile within a period of 18 months from the issuance of the order.
The companies are permitted to consummate the merger prior to the divestments.
The companies previously received unconditional clearance for the merger in Canada, Brazil and Russia.
The regulatory review and approval process continues in the U.S. and China and the parties expect to close the transaction by the end of the fourth quarter of 2017.
Upon closing the merger transaction, the new company will be named Nutrien.
As the largest global provider of crop inputs and services, Nutrien will play a critical role in "Feeding the Future" by helping growers to increase food production in a sustainable manner. ■