November 28, 2018 / 7:02 PM / 12 days ago

Nutrien to auction stake in lithium miner SQM on Monday

SANTIAGO (Reuters) - Canadian fertilizer giant Nutrien (NTR.TO) will auction its 23.77 percent share in Chile´s SQM (SQMa.SN) on Dec. 3, the Chilean stock exchange said on Wednesday, a final step toward completing the sale of a coveted stake in the world´s No. 2 lithium producer to China´s Tianqi (002466.SZ).

In a statement, the local stock exchange said the minimum bid would be set at $65 per share, for a total package price of $4.066 billion.

China’s Tianqi said in May it would buy nearly a quarter of SQM from Nutrien.

Reporting by Dave Sherwood; Editing by Bill Trott

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