Canada’s Potash Corp., Agrium, Receive Chinese OK for Merger

Potash Corporation of Saskatchewan Inc. and Calgary-headquartered Agrium Inc.'s proposed merger has been approved by China's Ministry of Commerce. The regulatory approval is conditional on the parties' commitment to divest Potash Corp's minority shareholdings in Arab Potash Company and Sociedad Quimica y Minera de Chile SA within 18 months, and Israel Chemicals within nine months. The approval is also conditioned on a commitment to convert Potash's equity interest in China's Sinofert Holdings to a passive investment prior to the closing of the merger transaction, and ensure that Canpotex remains a stable, reliable and dedicated supplier of potash to China. The companies have now received clearance for the merger in Brazil, Canada, China, India and Russia. The regulatory review and approval process continues in the U.S. Upon closing the merger transaction, the new company will be named Nutrien, a global provider of crop inputs and services.

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