CF Industries Announces Expiration of Hart-Scott-Rodino Act Waiting Period for Waggaman Ammonia Production Facility Acquisition.
CF Industries Holdings, Inc. (NYSE: CF) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Act”), in connection with its previously announced agreement to purchase Incitec Pivot Limited’s (“IPL”) ammonia production complex located in Waggaman, Louisiana.
The expiration of the HSR Act waiting period was a condition to the closing of the pending transaction. CF Industries and IPL expect to complete the transaction effective December 1, 2023, subject to the satisfaction of other customary closing conditions.
Under the terms of the agreement, CF Industries will purchase the Waggaman ammonia plant and related assets for $1.675 billion. The companies will allocate approximately $425 million of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200,000 tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics. CF Industries expects to fund the remaining $1.25 billion of the purchase price with cash on hand.
About CF Industries Holdings, Inc.
At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.
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CF Industries Announces Expiration of Hart-Scott-Rodino Act Waiting Period for Waggaman Ammonia Production Facility Acquisition. source
