(Reuters) — Canadian fertilizer company Agrium Inc. said on Friday that it will sell its turf and ornamental business to an affiliate of Koch Fertilizer LLC for $85 million including working capital.
The sale, expected to close in the second quarter, is part of a review Agrium completed last year that led to Agrium restructuring its three divisions into two business units.
Koch Fertilizer is a subsidiary of Kansas-based Koch Industries Inc., one of the largest privately held U.S. companies.
Agrium shares were down more than one percent in Toronto and New York in late morning trading.
