Agrium sells U.S. plants to PE-backed Itafos, Trammo: Reuters

Canadian fertilizer producer and farm supplier Agrium Inc said this week it will sell its Idaho phosphate production facility for US$100 million to fertilizer company Itafos, to address concerns of U.S. regulators about its merger with Potash Corp of Saskatchewan, Reuters reported. Under the deal, Itafos gets Agrium’s Conda, Idaho plant and adjacent mineral rights. Separately, Agrium will sell its North Bend, Ohio, nitric acid plant to a subsidiary of Trammo Inc for an undisclosed price. In June, Itafos closed a US$34.05 million funding deal with Zaff, Pala Investments and J.P. Morgan Asset Management. Itafos recently redomiciled from Canada to the Cayman Islands.

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