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
We are closing the chapter of the Chemicals Import Export Headquarters, and opening a new chapter under the name of Qemetica – a chemical group driving many industries on all continents. Therefore, the change of name is also accompanied by the adoption of the key goals of the business strategy for the next 6 years. – says Kamil Majczak, President of the Management Board.
In its efforts to advance chemical recycling, Neste has successfully conducted its first processing trial run with a new challenging raw material, liquefied discarded tires. In the processing run, Neste produced high-quality raw material for new plastics and chemicals.
Sika is opening a state-of-the-art facility in Lima, Peru, to produce synthetic macro fibers, and expanding the rollout of a product range with great growth potential in Latin America. With this innovative technology, Sika is further strengthening its position as a leading supplier to the mining industry and a strong partner for infrastructure projects.
