Agrium sells turf and ornamental line to Koch
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)
© Thomson Reuters 2017 All rights reserved.