Cairo – Mubasher: Canada’s Agrium has sold its entire stake of 26% in Misr Fertilizers Production Company (Mopco) in a block-trading deal to the Egyptian Ministry of Finance.

The transaction involved the sale of 59.57 million shares for EGP 2.93 billion, averaging EGP 49.19 apiece, Mopco said in a bourse disclosure on Monday.

The Ministries of Petroleum and Finance announced that disputes between Mopco’s Egyptian Nitrogen Products Company (ENPC) and Canada’s Nutrien, formerly Agrium, have been settled.

Agrium will drop all the lawsuits raised against the Egyptian government and its affiliated companies.

Beltone Securities Brokerage acted as a broker in the transaction.