Agrium sells turf and ornamental line to Koch

Fri May 9, 2014 11:49am EDT
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May 9 (Reuters) - Canadian fertilizer company Agrium Inc said on Friday that it will sell its turf and ornamental business to an affiliate of Koch Fertilizer LLC for $85 million including working capital.

The sale, expected to close in the second quarter, is part of a review Agrium completed last year that led to Agrium restructuring its three divisions into two business units.

Koch Fertilizer is a subsidiary of Kansas-based Koch Industries Inc, one of the largest privately held U.S. companies.

Agrium shares were down more than 1 percent in Toronto and New York in late morning trading. (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Marguerita Choy)