Canada-based Nutrien, a global provider of crop inputs and services, said it will sell 100% of its stake in Misr Fertilizers Production Company (Mopco) in Egypt for $540 million and settle all arbitration claims.

Nutrien said it would sell 59.57 million shares of Mopco and upon closing settle all arbitration claims it had made against the government of Egypt and Mopco’s affiliate, the Egyptian Nitrogen Products Co SAE.

Total proceeds resulting from the sale of shares as well as the settlements amongst the parties are expected to be received in full upon close before the end of December 2020. This investment has historically contributed $15 to $20 million per year to Nutrien’s Adjusted EBITDA. – TradeArabia News Service