Yara International ASA (OB:YAR) is being tipped as the most likely buyer of Incitec Pivot Limited (ASX:IPL)'s $2.2 billion Waggaman manufacturing plant in the US. Other possible buyers include Canadian chemical company Nutrien or even Orica, but sources say they're less likely. Incitec Pivot announced on November 15, 2022 it would delay the spin-off of its fertiliser division and was planning to sell Waggaman, which has faced challenges.

DataRoom understands that a trade group is already in talks to buy the manufacturing facility. Yara was said to be one of the parties looking at the Incitec Fertilisers chemicals unit when it was up for sale before the pandemic. Incitec Pivot opted to shelve the sale process and this year announced it would embark on a demerger.

It was understood that offers did not meet price expectations, thought to be about $700 million. When delivering its results on November 15, 2022, Incitec Pivot said it had received multiple approaches from credible buyers of its Waggaman ammonia plant in Louisiana. A review of its options for full or partial sale of the plant would push back Incitec's plan to split off its fertiliser and explosives businesses by six to 12 months, Incitec said at the time.