Agrium Inc. and Potash Corp. of Saskatchewan Inc. have announced that their proposed merger of equals transaction has been approved by India.
An Indian appellate court has approved a settlement reached between the merger parties and the Competition Commission of India (CCI) and has directed the CCI to issue a clearance order. Approval by the CCI is conditional on the companies’ commitment to divest PotashCorp’s minority shareholdings in Arab Potash Co. Israel Chemicals Ltd and Sociedad Quimica y Minera de Chile S.A. within an 18 month period after the order issuance. The companies are permitted to consummate the merger before the divestments.
The merger has been granted unconditional clearance in Canada, Russia and Brazil. The regulatory review and approval process is still on going in the US and China, and the parties are reportedly expecting to close the transaction by the end of 4Q17.
Once the merger transaction closes, the new company will be called Nutrien. The company will be a major global provider of crop inputs and services, and will play a significant role in ‘feeding the future’ by helping growers to increase food production sustainably.
Source: World Fertilizer
Neste is announcing the conclusion of its first series of trials into processing liquefied waste plastic with chemical recycling technology at its Porvoo refinery in Finland. The oil refining company says it has processed about 800 tons of liquefied waste plastic over the last two years – roughly the same amount generated annually by a European city with 500,000 people.
Sika performed well in a challenging environment in 2021. Despite the persistent COVID-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies.
Ineos Olefins and Polymers Europe is joining the pioneering polypropylene (PP) recycling project Nextloopp, supporting its delivery of food-grade recycled content. The chemicals company will orchestrate a pivotal two-year project that will inform the building of a demonstration plant in the UK to produce 10,000 metric tons of recycled polypropylene (rPP) annually.