CF Industries announces HSR period expiration for Waggaman facility acquisition

CF Industries announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with its agreement to purchase Incitec’s 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, , subject to the satisfaction of other customary closing conditions. CF Industries will purchase the Waggaman ammonia plant and related assets for $1.675B. The companies will allocate approximately $425M of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200K tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics. CF Industries expects to fund the remaining $1.25B of the purchase price with cash on hand.