10 April 2008 14:24 [Source: ICIS news]
CMF has annual sales of $500-600m (€315-378m) and sells 2-2.5m tonnes/year of fertilizers.
Agrium would pay $16m plus working capital of about $50m for the stake, it said.
“This acquisition is a key step in our global wholesale distribution strategy," said Agrium CEO Mike Wilson.
“CMF provides us with important access to major distribution assets across Europe, expansion of our sourcing footprint into Eastern Europe, as well as one of
The transaction was expected to close in the second quarter of 2008, subject to concluding a definitive purchase and sale agreement, due diligence and regulatory approval, Agrium said.
CMF CEO Oscar Geyer would remain as CEO, it added.
CMF has developed a large base of 1,500 customers, including retailers and cooperatives, across
It operates through subsidiaries in
CMF owns and leases over 300,000 tonnes of dry and liquid storage at both port and inland sites across much of
CMF’s head office is in
($1 = €0.63)
Stefan Baumgarten contributed to this article
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