Yara completes acquisition of OFD Holding Inc.
02.10.2014 | Globenewswire Europe
![Yara completes acquisition of OFD Holding Inc.](https://www.goldseiten.de/media/goldseiten-news.jpg)
approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the
integration process to start.
The OFD operations comprise production facilities in Cartagena, Colombia and
distribution companies across Latin America.
Regulatory approvals have been obtained in almost all jurisdictions, including
commitments which are not expected to materially impact the profitability of the
acquisition.
"We welcome the approvals from regulatory authorities which now allow us to
close the acquisition and start the integration process. This is an important
milestone which paves the way for Yara's further development in Latin America,
creating value for Yara's shareholders and contributing to agricultural,
industrial and mining sector growth in the region. I would like to welcome all
our new employees in Colombia, Costa Rica, Mexico, Bolivia, Peru and Panama,"
said Jørgen Ole Haslestad, President and Chief Executive Officer of Yara
International ASA.
The final enterprise value is USD 377 million, which is USD 47 million lower
than previously communicated, due to a correspondingly lower level of working
capital.
The transaction will be financed from the existing cash balance of Yara
International ASA.
OFD owns and operates a fertilizer production facility in Cartagena with an
annual capacity of approximately 320 kilotons (kt) compound NPK, 100 kt calcium
nitrate (CN) and 70 kt ammonium nitrate (AN), with integrated ammonia
production. OFD also controls approximately 700 kt of NPK blending capacity
across 12 sites and 100 kt liquid fertilizer capacity as part of its fertilizer
distribution network across Colombia, Mexico, Peru, Bolivia, Costa Rica and
Panama.
In 2013 OFD sold 1,211 kt of fertilizer, generating net revenues of USD 693
million and an EBITDA of USD 42 million. Yara confirms expected annual synergies
of USD 20 million.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Contact
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Mobile: (+47) 48 07 53 56
E-mail thor.giaver@yara.com
Esben Tuman, Media Relations
Telephone: (+47) 24 15 70 26
Mobile: (+47) 90 50 84 00
Email: esben.tuman@yara.com
Yara delivers solutions for sustainable agriculture and the environment. Our
fertilizers and crop nutrition programs help produce the food required for the
growing world population. Our industrial products and solutions reduce
emissions, improve air quality and support safe and efficient operations.
Founded in Norway in 1905, Yara has a worldwide presence with sales to 150
countries. Safety is always our top priority.
www.yara.com
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Source: Yara International ASA via GlobeNewswire
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