La Coop fédérée, Investissement Québec and Indian Farmers Fertiliser Cooperative to invest C$1.2 billion in IFFCO Canada
December 27, 2012
1.20 Billion CAD
On December 27, 2012, La Coop fédérée, Investissement Québec and the Indian Farmers Fertiliser Cooperative Limited (IFFCO) closed a transaction pursuant to which they have committed, subject to the fulfillment of certain conditions, to invest in IFFCO Canada Enterprise Ltd. (IFFCO Canada) in consideration for the issuance by IFFCO Canada of shares in its capital. IFFCO Canada is establishing a C$1.2 billion nitrogen fertilizer plant in Bécancour, Québec, Canada, to allow for the production and marketing of nitrogen fertilizer. The plant’s construction is expected to begin in 2014 and the production of fertilizer is targeted to begin in 2017.
IFFCO, headquartered in New Delhi, is one of the world's largest fertilizer cooperatives.
La Coop fédérée, headquartered in Montréal, is the largest agri-food enterprise in Québec and one of the largest agri-food enterprises in Canada, and it ranks among the 100 largest cooperatives and mutuals in the world, all sectors combined.
Investissement Quebec is the economic development arm of the Quebec government and invests in and finances projects and companies across the province of Québec.
McCarthy Tétrault LLP represented La Coop fédérée, the joint venture partner, with team led by Éric Gosselin, and including Louis-Nicolas Boulanger and Jean-Philippe Buteau.