DBRS: Agrium acquisition positive

DBRS said that Agrium Inc. announced that it has entered into a definitive agreement with Glencore International plc to acquire the majority of the Canadian and Australian retail agricultural product facilities, as well as a minority position in a nitrogen facility located in Medicine Hat, Alberta, currently owned by Viterra Inc., if Glencore is successful in completing its proposed acquisition of Viterra.

DBRS said it views Agrium's potential acquisition of Viterra assets as complimentary to Agrium's existing businesses and, if completed as proposed, the acquisition is within the company's existing financial capacity.

Accordingly, DBRS said it does not expect the acquisition to affect Agrium's current rating.

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