Market to eye potential spin-off of Australia's Incitec fertilisers ops, Jarden says

Dyno Nobel

11/07/2024 03:01

** Analysts at Jarden say assumptions of sale of fertilisers
business of Australia's Incitec Pivot  IPL.AX  will now be
replaced by a potential spin-off and closure of Phosphate Hill
mine
    ** The chemicals manufacturer on Wednesday said it had
ceased talks over the sale of its fertilisers business with a
potential Indonesian buyer
    ** Brokerage says market could also look at a potential
scenario of IPL remaining a consolidated group of
non-synergistic businesses and potentially unaligned management
    ** Shares fall as much as 1.2% to A$2.87
    ** Jarden however remains positive on the underlying
explosives business outlook for co
    ** Brokerage has a PT of A$3.15 and an "overweight" stock
rating
    ** Stock has risen 18.3% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))