Saskatchewan’s Nutrien Sells Stake in Lithium Producer to Chinese Company for US$4.1B

Saskatoon-based fertilizer firm Nutrien Ltd. is selling most of its 32-per-cent stake in Chilean fertilizer and lithium producer Sociedad Quimica y Minera de Chile S.A. (SQM) in a US$4.1-billion deal. The stock sale to China's Tianqi Lithium Corp., based in Chengdu, Sichuan Province, was a regulatory requirement stemming from the January, 2018 merger of Calgary-based Agrium Inc. and Potash Corp. of Saskatchewan Inc., creating Nutrien. Nutrien must sell its remaining shares in SQM – currently worth about US$1.3-billion ­– by the middle of next year to satisfy regulators.

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