Agrium chief executive officer Mike WilsonJeff McIntosh
Agrium Inc. says it's talking to "a number of interested parties" about selling the commodity management business of Australian grain producer AWB Ltd., which it recently acquired for $1.2-billion.
The Calgary-based fertilizer maker, one of the largest in North America, said the announcement Tuesday was in reaction to reports in the Australian news media.
"No definitive agreement has been entered into with respect to the sale of the commodity management businesses and accordingly no assurance can be given that any agreement will be entered into or any sale completed," Agrium said in a release.
The company said that it will not make any further announcements unless the talks are either successfully concluded or fall apart.
AWB was formed in 1939 as the Australian Wheat Board.
The company, now a leading agricultural retailer in Australia, was that country's statutory grain marketing authority for over 60 years.