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Nutrien flags Australian EBITDA boost after closing A$469M Ruralco deal

Fertilizer producer Nutrien Ltd. closed its A$469 million acquisition of Ruralco Holdings Ltd., which provides products and services to Australia's agricultural sector, according to a Sept. 30 release.

With the takeover, Nutrien expects its 2020 annual EBITDA in Australia to surpass US$230 million, with US$70 million coming from Ruralco, after accounting for expected synergies.

In February, Nutrien signed a binding deal to acquire Ruralco at A$4.40 per share. Australia's Foreign Investment Review Board cleared the deal in August.

Nutrien recently flagged a cut of about 700,000 tonnes to its full-year potash production due to the planned shutdown of inventories at its Allan, Lanigan and Vanscoy potash mines in Saskatchewan for eight weeks during the fourth quarter.