Ministry of Finance, Egypt and Ministry of Petroleum entered into an agreement to acquire 26% stake in Misr Fertilizers Production Company S.A.E. from Nutrien Ltd. for approximately $540 million.
December 17, 2020
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Ministry of Finance, Egypt and Ministry of Petroleum (Egypt) entered into an agreement to acquire 26% stake in Misr Fertilizers Production Company S.A.E. from Nutrien Ltd. (TSX:NTR) for approximately $540 million on December 18, 2020. As per terms, Ministry of Finance, Egypt and Ministry of Petroleum (Egypt) will acquire 59.57 million shares of Misr Fertilizers Production Company S.A.E. The transaction is subject to customary closing conditions and is expected to be closed on or before the end of December 2020.
Nutrien Ltd. is a Canada-based company, which is a provider of crop inputs and services. The Company operates through four segments: Nutrien Ag Solutions (Retail), Potash, Nitrogen and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds and merchandise, and it provides services directly to growers through a network of farm centers in North America, South America and Australia. Its Retail business includes Nutrien Ag Solutions and Landmark Retail businesses, which provide agricultural solutions, including nutrients, crop protection products, seed, services and agronomic advice to growers. The Potash, Nitrogen and Phosphate segments are differentiated by the chemical nutrients contained in the products that it produces. The Company produces and distributes over 27 million tons of potash, nitrogen and phosphate products for agricultural, industrial and feed customers worldwide. It operates approximately 2,000 retail locations in over seven countries.
Ministry of Finance, Egypt and Ministry of Petroleum entered into an agreement to acquire 26% stake in Misr Fertilizers Production Company S.A.E. from Nutrien Ltd. for approximately $540 million.
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