CCI seeks comments on merger of Agrium and Potash Corporation of Saskatchewan1 min read . Updated: 30 Mar 2017, 01:44 AM IST
The CCI said the merger of Agrium and Potash Corporation of Saskatchewan is likely to have an appreciable adverse effect on competition
New Delhi: The Competition Commission of India (CCI) on Wednesday sought public comments on a proposed merger between Canadian agri-firms Agrium Inc and Potash Corporation of Saskatchewan, Inc, for assessing its impact on competition.
The CCI, on a preliminary view, said this merger was likely to have an appreciable adverse effect on competition.
The two companies announced their merger in September last year.
According to a Reuters report, the merger deal carried a $485 million termination sum for each side.
The Commission asked persons affected or likely to be affected by the proposed merger to send their comments to the CCI within 15 working days from the notice, that is before 18 April.
The merger will lead to a parent company, where shareholders of Agrium will hold 52% stake and Potash will take the rest.
The two firms do not have a presence in India directly. The firms supply potash in India through their joint venture company Canpotex.