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Agrium chief executive officer Mike Wilson (Jeff McIntosh)
Agrium chief executive officer Mike Wilson (Jeff McIntosh)

Agrium to sell AWB unit to Cargill Add to ...

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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  • Agrium Inc
  • Updated June 22 4:00 PM EDT. Delayed by at least 15 minutes.

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