Nutrien sees strong buyer interest for South American farm stores, CEO says

- Canadian fertilizer producer Nutrien is seeing strong interest from prospective buyers in its retail assets in Argentina , Chile and Uruguay , CEO Ken Seitz said in an interview on Thursday.

Since 2019, Argentina's peso has been kept artificially strong by strict capital controls that create a wide gap between the official exchange rate and parallel rates."It's a challenging environment because of the currency controls for foreign investors. But if you're domestic and are interested in agricultural retail, it's a different story because you can keep the pesos in ," Seitz said.

Fertilizer companies have faced volatility since Russia's invasion of Ukraine sent prices skyrocketing in 2022 only to collapse the following year as farmers held off on purchases and supplies stabilized.Argentina, Chile and Uruguay account for 3% of Nutrien's global retail sales, Chief Financial Officer Pedro Farah said on a quarterly call.The company is running a typical sales process, Seitz said, with a data room for prospective buyers that sign non-disclosure agreements.

Source: Loan Digest (loandigest.net)

Prospective Buyers Uruguay CEO Ken Seitz Currency Controls Argentina Pedro Farah

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