Itafos Announces Acquisition of Conda Phosphate Operations
- Published: 07 November 2017
- Written by Editor
Companies Enter Into Ammonia Supply Agreements for Donaldsonville and Trinidad Production
CF Industries Holdings, Inc. (CF) (“CF Industries” or “the Company”) today announced that it has entered into a set of strategic agreements with the Mosaic Company (MOS). The agreements include: a definitive agreement to sell the entirety of CF Industries’ phosphate mining and manufacturing business to Mosaic for cash consideration of $1.4 billion, subject to adjustment; a long-term agreement under which the Company will supply Mosaic with between 600,000 and 800,000 tons of ammonia per year from its Donaldsonville, Louisiana nitrogen complex beginning no later than 2017; and an agreement to provide ammonia to Mosaic from the Company’s Point Lisas Nitrogen Ltd. (PLNL) joint venture beginning at the close of the phosphate sale.
Hanfeng Evergreen Inc ( HF ) ("Hanfeng" or the "Corporation") announced that its board of directors has received an unsolicited non-binding proposal from Mr. Xinduo Yu, the Corporation''s President and Chief Executive Officer and the holder of approximately 20.2% of Hanfeng''s outstanding common shares, pursuant to which a company wholly-owned by Mr. Yu would acquire all of the outstanding common shares not owned by it at a price of CDN$2.20 in cash per share.
The board of directors has previously formed a special committee of independent directors consisting of Loudon Owen (Chairman), Edwin Nordholm and David Thomson to review and consider the privatization proposal.