Sale of Viterra's Minority Interest in Medicine Hat nitrogen facility to CF Industries Holdings

Aug 02, 2012, 22:46 ET from Glencore International plc

BAAR, Switzerland, Aug. 2, 2012 /CNW/ - Glencore International plc ("Glencore") today confirms that it has entered into an agreement to sell Viterra Inc.'s minority interest in a nitrogen facility located in Medicine Hat, Alberta, Canada (the "Medicine Hat Facility Interest"), to CF Industries Holdings, Inc. ("CF"). CF was nominated by Agrium Inc. ("Agrium") as the buyer of the Medicine Hat Facility Interest under the support and purchase agreement dated 19 March 2012 (the "Support and Purchase Agreement") between Glencore and Agrium.  The purchase price for the Medicine Hat Facility Interest will be applied pursuant to the Support and Purchase Agreement. CF's acquisition of the Medicine Facility Interest is conditional upon Glencore's completion of the acquisition of Viterra, receipt by CF of Canadian regulatory approvals and satisfaction of other customary closing conditions.

As announced on 20 March 2012, Glencore agreed to sell the majority of Viterra's retail agri-products business including the Medicine Hat Facility Interest to Agrium, subject to among other conditions the completion of Glencore's acquisition of Viterra.

About Glencore International plc

Glencore is one of the world's leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products.

SOURCE Glencore International plc