Reuters reported on Wednesday that fertilizer and farm products company Calgary-based Agrium Inc. completed the sale of Australian company AWB Inc.’s commodity management unit to Cargill Inc. for $677 million.
The agreement was initially announced by an Australian unit of Wayzata, Minn.-based Cargill about five months ago, but terms were not released at that time. Cargill has now paid Agrium the $677 million in cash; a portion of that sum covered the repayment of $363 million of funding that Agrium had put into the grain distribution and marketing unit that Cargill is acquiring.
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