CF Industries Holdings, Inc. completed the acquisition of Incitec Pivot Limited's ammonia production complex in Waggaman, Louisiana, for $1.675 billion. This facility, commissioned in October 2016, has an annual ammonia production capacity of 880,000 tons.

As part of the agreement, approximately $425 million of the purchase price was allocated to a long-term ammonia offtake arrangement. Under this arrangement, CF Industries will supply up to 200,000 tons of ammonia annually to Incitec Pivot's Dyno Nobel subsidiary at production economics. The remaining purchase amount was funded with CF Industries' cash reserves.

CF Industries was advised by Skadden, Arps, Slate, Meagher & Flom LLP.