CF Industries Holdings announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act), in connection with its previously announced agreement to purchase Incitec Pivot Limited’s (IPL) ammonia production complex located in Waggaman, Louisiana.

The expiration of the HSR Act waiting period was a condition to the closing of the pending transaction. CF Industries and IPL expect to complete the transaction effective December 1, 2023, subject to the satisfaction of other customary closing conditions.

Under the terms of the agreement, CF Industries will purchase the Waggaman ammonia plant and related assets for $1.675 billion. The companies will allocate approximately $425 million of the purchase price to a long-term ammonia offtake agreement under which CF Industries will supply up to 200,000 tons of ammonia per year to IPL’s Dyno Nobel subsidiary at production economics. CF Industries expects to fund the remaining $1.25 billion of the purchase price with cash on hand.