(Reuters) - Canadian fertilizer company Agrium Inc (AGU.TO)(AGU.N) 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 KCHIN.UL, 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