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).
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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