SASKATOON — Nutrien Ltd. has completed the sale of its 50 per cent equity position in Argentina-based nitrogen producer Profertil S.A. (Profertil) to Adecoagro S.A. and Asociacion de Cooperativas Argentinas Coop Ltda through a joint acquisition.
Total proceeds from the sale on a pre-tax basis are approximately US$600 million, according to a news release.
“Closing the sale of our equity stake in Profertil demonstrates continued progress towards simplifying our portfolio, enhancing earnings quality, and improving cash conversion,” said Ken Seitz, Nutrien’s president and CEO.
“We intend to allocate the proceeds towards capital allocation priorities that support our ability to grow free cash flow per share over the long term, including targeted growth investments, share repurchases and debt reduction.”
With the completion of the Profertil sale, Nutrien has generated approximately US$900 million in gross proceeds from asset divestitures since the fourth quarter of 2024.
