Incitec Pivot (ASX:IPL) is considering a structural separation of its fertilisers businesses Incitec Pivot Fertilisers and Dyno Nobel to create two distinct industry-leading businesses.

Despite speculation around the sale of its fertilisers enterprise, the company said it is currently evaluating offers for potential acquisition while also considering the proposed demerger of the companies.

It also said however, the demerger remains a strategic priority for the board.

Incitec Pivot added that as the negotiation process is still ongoing there is no certainty that any formal agreement will be reached or that a sale transaction will happen.