Yara acquisition of Bunge's fertilizer business in Brazil approved
(Thomson Reuters ONE) -
Oslo (2013-06-05): The Brazilian Administrative Council for Economic Defence
(CADE) has approved Yara's acquisition of Bunge's fertilizer business in Brazil,
allowing Yara to proceed with completing the USD 750 million transaction and
integration process.
"This regulatory approval marks the start of an exciting new phase in Brazil for
Yara. Brazil has significant growth prospects for both the agricultural sector
in general and the fertilizer industry, and Yara intends to play a key role in
the further development of Brazilian agribusiness," said Jørgen Ole Haslestad,
President and Chief Executive Officer in Yara International.
The transaction is valued at USD 750 million and comprises a net operating
capital value of USD 385 million and other assets valued at USD 365 million,
with the operating capital value subject to post-closing adjustment. Yara is
targeting USD 50 million annual synergies from 2014.
CADE's unrestricted approval of the acquisition was announced on May 16, with a
subsequent 15 day filing period for possible objections, which has now expired
without any such objections announced by CADE. Closing of the acquisition is
expected to take place during third quarter 2013, with the acquired business
consolidated into Yara International ASA fourth-quarter 2013 results. The
transaction will be financed from the existing cash balance of Yara
International ASA.
For further information, please contact:
Thor Giæver, Investor Relations
Telephone: (+47) 24 15 72 95
Cellular: (+47) 48 07 53 56
E-mail: thor.giaver(at)yara.com
Esben Tuman, Corporate Communications
Telephone: (+47) 24 15 70 26
Cellular: (+47) 905 08 400
E-mail: esben.tuman(at)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
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Yara International ASA via Thomson Reuters ONE
[HUG#1707011]
Unternehmensinformation / Kurzprofil:
Datum: 05.06.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 266637
Anzahl Zeichen: 3092
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara acquisition of Bunge's fertilizer business in Brazil approved"
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