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
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
Clariant says it is reducing its number of businesses from five to three, by merging units, under a reorganization that is in line with the company’s purpose-led strategy and cultural transformation. The moves will position Clariant for long-term sustainable growth, the company says.
Chemicals & plastics industry has the most diversified end-use market across all manufacturing industries. The industry returned to growth in 2021 but a supply chain crunch prevented it from becoming stronger. The market is likely to stabilize in the second half of 2022 with a supply-demand balance.