December 14, 2010 / 12:50 PM / 7 years ago

UPDATE 1-Agrium in talks to sell AWB's commodity management arm

* In talks with numerous parties interested in the unit

* Says no definitive agreement has been entered into

(All figures in U.S. dollars, unless noted)

TORONTO, Dec 14 (Reuters) - Agrium Inc (AGU.TO) said on Tuesday it is in discussions to sell the AWB commodity management businesses, which it bought as part of its $1.1 billion acquisition of Australia’s AWB earlier this year.

Agrium, the largest North American farm products retailer, acquired AWB with an eye on its prized Landmark farm retail outlets. In September, the company said it was mulling whether to keep, or sell the handling, storage and marketing arm of AWB that it also acquired as part of the deal.

Calgary, Alberta-based Agrium said it is currently in discussions with a number of parties that are interested in acquiring the AWB commodity management businesses. But no definitive agreement has been reached yet.

The company said it issued this statement in response to speculative articles in the Australian press with respect to the possible sale of the commodity management businesses.

Agrium said it will make no further announcements about this matter until either an agreement for the sale of the AWB commodity management businesses has been reached or discussions are terminated without any agreement being reached. (Reporting by Euan Rocha; Editing by Derek Caney)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below