Nutrien Sells Stake in Fertilizer Venture as It Exits Argentina

Canada’s Nutrien Ltd. agreed to sell its 50% stake in Argentine nitrogen producer Profertil SA to Adecoagro SA and Asociacion de Cooperativas Argentinas for about $600 million, a remaining step in its move to exit the South American nation.

Nutrien announced last year it would divest retail operations in Argentina and in neighboring Chile and Uruguay, as it focuses on Brazil and other global markets. Bloomberg News reported in January that the company was also weighing a sale of its stake in Profertil.

Nutrien closed the deal with Adecoagro after several other international companies have divested out of Argentina over ...