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Nutrien auctions remaining shares in lithium miner SQM for nearly $1bn

1st June 2018

By: Reuters

  

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SANTIAGO – Canadian fertiliser 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.

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Edited by Reuters

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