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Nutrien Ltd. (NYSE:NTR) announced today that it has entered into an agreement to sell its 50 percent equity position in Argentina-based nitrogen producer Profertil S.A. (Profertil) to Adecoagro S.A. and Asociacion de Cooperativas Argentinas Coop Ltda through a joint acquisition. The purchase price for Nutrien's shares in Profertil is expected to be approximately US$600 million on a pre-tax basis.
"The agreement to sell our equity stake in Profertil advances our strategy to focus on assets and geographies that are core to our long-term vision," commented Ken Seitz, Nutrien's President and CEO. "We intend to allocate the sale proceeds to initiatives consistent with our capital allocation priorities, including targeted growth investments, share repurchases and debt reduction. We believe these initiatives will enhance the quality of Nutrien's earnings and support long term growth in free cash flow."
The transaction is subject to customary closing conditions and is expected to be completed before the end of 2025. Under the Profertil shareholder agreement, the remaining 50 percent equity owner holds a 90-day right of first refusal to purchase Nutrien's equity on the same terms and conditions.
BofA Securities is acting as financial advisor to Nutrien.
The proportionate share of Profertil earnings recorded in Nutrien's Nitrogen operating segment totaled approximately US$60 million over the previous four quarters.
Posted In: NTR
