Incitec Pivot Ends Fertiliser Business Sale Talks

Incitec Pivot Limited (AU:IPL) has released an update.

Incitec Pivot Limited has halted the sale of its fertiliser business, Incitec Pivot Fertilisers, to PT Pupuk Kalimantan Timur due to an inability to finalize the deal within an acceptable timeframe, prioritizing instead a $900 million on-market share buyback program for shareholders. The company will continue to operate its Dyno Nobel and IPF businesses independently, focusing on global expansion for Dyno Nobel and market share growth in value-add fertilisers for IPF. Despite the halted sale, the financial outlook for FY24 remains consistent with previous projections.

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