Nov 10 (Reuters) - Sherritt International Corp S.TO
* Sherritt and Partners sign definitive agreement to restructure Ambatovy joint venture
* Sherritt International Corp - Will eliminate $1.3 billion (at September 30, 2017) in Ambatovy JV additional partner loans from its balance sheet
* Sherritt International - Sherritt will eliminate $1.3 billion (at Sept 30, 2017) in Ambatovy joint venture additional partner loans from balance sheet
* Sherritt International - Co's outstanding partner loans of $101 million due 2023 (at September 30, 2017) will continue to be secured by co's 12% interest
* Sherritt International- Agreement to restructure its Ambatovy JV will result in transfer by Sherritt of 28% interest in JV
* Sherritt International Corp - Sherritt will regain voting rights and certain other rights that were suspended when it ceased funding as part of deal
* Sherritt International - Agreement to restructure its Ambatovy JV will also eliminate related debt from Sherritt's balance sheet
* Sherritt International - Co to cover deal, closing costs, including financial, legal advisory fees, applicable taxes & corporate restructuring costs
* Sherritt International - Expects to make additional payment of about $13 million to cover potential future funding requirements of Ambatovy joint venture
* Sherritt International Corp - As part of deal, Sherritt will resume funding for its 12% interest retroactively to end of 2015
* Sherritt International Corp - Agreement to restructure its Ambatovy joint venture with Sumitomo Corporation and Korea Resources Corporation
* Sherritt International Corp - Sherritt will remain as operator of Ambatovy JV until at least 2024