The Chinese Ministry of Commerce approved the Agrium Inc. and Potash Corp. of Saskatchewan Inc. merger with conditions including divestment of PotashCorp’s holdings in Arab Potash Co., Israel Chemicals Ltd. and Sociedad Quimica y Minera de Chile SA (SQM) within 18 months of closing of the merger, according to statement on the ministry’s website, said Bloomberg. PotashCorp has already agreed to shed the assets as a condition to getting approval from India.
The ministry is also requiring the new entity to maintain stable potash supply to China in the future.