June 1, 2018 / 1:58 PM / 3 months ago

Canada's Nutrien auctions remaining shares in lithium miner SQM for nearly $1 bln

SANTIAGO, June 1 (Reuters) - Canadian fertilizer 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.

1 USD = 632 Chilean pesos Reporting by Dave Sherwood Editing by Chizu Nomiyama

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