Nutrien says moving toward selling stakes in SQM, Arab Potash

|About: Nutrien Ltd. (NTR)|By:, SA News Editor

Nutrien (NYSE:NTR) is actively talking with prospective buyers of its stakes in Chilean lithium producer SQM and Arab Potash Co., CEO Chuck Magro says.

NTR is selling minority stakes in those companies as part of pledges to regulators who approved the merger of Agrium and Potash Corp.

Interest in the SQM stake - which NTR aims to sell the SQM stake sometime in 2018 - has been strong due to forecasts for sharp demand increases for lithium, and NTR may sell the Arab Potash stake in Q2, CFO Wayne Brownlee said during today's earnings conference call.

NTR owns 32% of SQM and 28% of Arab Potash, and analysts estimate the sales could generate $3.8B in net proceeds.

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