Agrium gets Australian board approval sale AWB Cargill

Agrium gets Australian board approval for sale of AWB to Cargill

2:47 PM, 17th June 2011
Agrium gets Australian board approval for sale of AWB to Cargill
Mike Wilson, President and CEO, Agrium.

CALGARY, CANADA: Agrium Inc announced that Cargill, has received clearance from Australia’s Foreign Investment Review Board (FIRB) for Cargill’s proposed acquisition of AWB Limited’s commodity management business from Agrium. FIRB has notified Cargill that there are no objections to the proposed acquisition.

On December 15, 2010, Agrium signed an agreement with Cargill pursuant to which Cargill agreed to acquire a majority of the commodity management businesses of AWB. Further details of this transaction will be provided upon closing, expected within the next two weeks.

“We are pleased that all the necessary approvals have now been obtained to complete this transaction. This will allow us to focus our efforts in Australia and bring value to grower customers. We believe Australian grain growers will benefit from Cargill’s expertise in grain handling and international marketing,” said Mike Wilson, President and CEO, Agrium.

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