June 1, 2018 / 1:59 PM / 2 years ago

Canada's Nutrien auctions remaining shares in lithium miner SQM for nearly $1 bln

SANTIAGO, June 1 (Reuters) - Canadian fertilizer company Nutrien auctioned its remaining stake in Chile lithium miner SQM on Friday for nearly $1 billion, the last step in meeting regulatory commitments after the company was formed in January by the merger of Agrium and Potash Corp of Saskatchewan.

The nearly 20.17 million B-series shares in SQM sold on Chile’s IPSA stock exchange for 31,000 pesos ($49.05) per share.

China’s Tianqi Lithium Corp last month said it would buy nearly a quarter of the lithium miner for $4.1 billion, gaining it coveted access to a key ingredient in rechargeable batteries that power mobile phones and electric cars.

1 USD = 632 Chilean pesos Reporting by Dave Sherwood Editing by Chizu Nomiyama

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