Street Talk

Incitec Pivot’s drawn-out fertiliser sale rounds the finish line

Investor sources say new chief Mauro Neves has the market’s support to run the company as a pure-play explosives business.

Sarah Thompson, Kanika Sood and Emma Rapaport

Apr 12, 2024 – 5.00am

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Incitec Pivot’s Indonesian suitor is in the final furlong of carving out its big Australian fertiliser division eight months after Street Talk outed the talks.

The $1 billion-plus deal is expected to be announced within weeks, although sources say there are still a few bits and pieces to iron out.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.