Agrium Inc. has reached an agreement in principle with Imperial Oil to acquire its Western Canadian fertilizer distribution assets.
Agrium Inc. has reached an agreement in principle with Imperial Oil
to acquire its Western Canadian fertilizer distribution assets. Under
the agreement, Agrium will acquire the fertilizer storage and
distribution assets and associated long-term leases for land at more
than 190 independently operated retail locations. The agreement also
includes exclusive fertilizer supply agreements with the independent
operators. The purchase price of $22 million will be funded from cash on
hand. The transaction is expected to close in the third quarter of 2005,
subject to a definitive purchase and sale agreement, due diligence and
regulatory approval.
COPYRIGHT 2005 Doane Information Service
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Reader Opinion