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Agrium chief executive officer Mike Wilson

Jeff McIntosh

Agrium Inc. has agreed to sell the commodity-management business of recently purchased Australian agricultural firm AWB Ltd. to Cargill Inc.

The Calgary-based fertilizer giant says the transaction will be sold based on the value of its net assets at the closing date, plus a premium.

The agreement currently values the assets that are being sold at $925-million (Australian).

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Agrium expects the sale to be completed in the first half of next year.

Agrium's $1.2-billion (Canadian) acquisition of AWB, which was announced over the summer, closed earlier this month.

The company has also said it's exploring options around the sale of AWB's grain-handling business, and is talking to "a number of interested parties."

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