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Canada's Nutrien auctions remaining shares in lithium miner SQM for nearly $1 bln

Published 2018-06-01, 09:55 a/m
Updated 2018-06-01, 10:00 a/m
© Reuters.  Canada's Nutrien auctions remaining shares in lithium miner SQM for nearly $1 bln

SANTIAGO, June 1 (Reuters) - Canadian fertilizer company Nutrien NTR.TO auctioned its remaining stake in Chile lithium miner SQM on Friday for nearly $1 billion, the last step in meeting regulatory commitments after the company was formed in January by the merger of Agrium and Potash Corp of Saskatchewan.

The nearly 20.17 million B-series shares in SQM SQM_pb.SN sold on Chile's IPSA .IPSA stock exchange for 31,000 pesos ($49.05) per share.

China's Tianqi Lithium Corp 002466.SZ last month said it would buy nearly a quarter of the lithium miner for $4.1 billion, gaining it coveted access to a key ingredient in rechargeable batteries that power mobile phones and electric cars. USD = 632 Chilean pesos)

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