Closing of Yara acquisition of Vale Cubatão Fertilizantes complex in Brazil
Oslo, 15 May 2018: Yara International ASA has closed its acquisition of the Vale Cubatão Fertilizantes complex, strengthening Yara's integrated position in Brazil.
"This acquisition marks the start of an exciting new phase in Brazil for Yara as the acquisition brings nitrogen production assets into our growing portfolio in Brazil, strengthening and growing our integrated position within both industrial and fertilizer", said Svein Tore Holsether, President and Chief Executive Officer in Yara International.
The Cubatão asset is a nitrogen and phosphate complex with an annual production capacity of approximately 200 kilotons of ammonia, 500 kilotons of nitrates and 700 kilotons of phosphate fertilizer. The complex employs approximately 1,015 permanent and 970 contracted employees.
The transaction is valued at USD 255 million, with the operating capital value subject to post-closing adjustment.
Yara will consolidate the acquired business effective 15 May 2018, including possible goodwill, and measure all identifiable assets acquired and liabilities assumed at their acquisition-date fair values.
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
Mobile: (+47) 90 50 84 00
E-mail: esben.tuman@yara.com
About Yara
In collaboration with customers and partners, Yara grows knowledge to responsibly feed the world and protect the planet, to fulfill its vision of a collaborative society, a world without hunger and a planet respected.
Our crop nutrition solutions and precision farming offerings allow farmers to increase yields and improve product quality while reducing environmental impact. Our environmental and industrial solutions improve air quality and reduce emissions, and are key ingredients in the production of a wide range of products. We foster an open culture of diversity and inclusion that promotes the safety and integrity of our employees, contractors, business partners, and society at large.
Founded in 1905 to solve emerging famine in Europe, Yara has a worldwide presence with more than 16,000 employees and operations in over 60 countries. In 2017, Yara reported revenues of USD 11.4 billion.
www.yara.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Yara International ASA via Globenewswire
