Nutrien to sell 50% equity position in Profertil for $600M

Nutrien (NTR) entered into an agreement to sell its 50 percent equity position in Argentina-based nitrogen producer Profertil to Adecoagro (AGRO) and Asociacion de Cooperativas Argentinas Coop through a joint acquisition. The purchase price for Nutrien’s shares in Profertil is expected to be approximately $600M on a pre-tax basis. The transaction is subject to customary closing conditions and is expected to be completed before the end of 2025. Under the Profertil shareholder agreement, the remaining 50 percent equity owner holds a 90-day right of first refusal to purchase Nutrien’s equity on the same terms and conditions. BofA Securities is acting as financial advisor to Nutrien. The proportionate share of Profertil earnings recorded in Nutrien’s Nitrogen operating segment totaled approximately $60M over the previous four quarters.