Melbourne-Incitec Pivot Ltd. said Aug. 29 that it has acquired a 13 percent strategic stake in Dyno Nobel Ltd. The share purchases were conducted on-market and off-market transactions between Aug. 24-29 at an average price of $2.35. Incitec Pivot said it will be seeking to explore further opportunities with the Dyno Nobel board and management. Incitec Pivot is Australia’s largest integrated fertilizer manufacturer and distributor, with major ammonia and phosphate facilities. Dyno Nobel is an international ammonium nitrate explosives manufacturer and distributor, with leading positions in North America and a number two position in Australia.
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