Closing of Yara acquisition of Bunge's fertilizer business in Brazil
(Thomson Reuters ONE) -
Oslo (2013-08-09): Yara International ASA has closed its acquisition of Bunge's
fertilizer business in Brazil, marking a major step forward for its growth
ambitions in the region.
"I am pleased to announce the closing of this acquisition, which allows us to
proceed with the important work with integration, synergy harvest and
positioning for further growth in Brazil. 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.
With a capacity of 32 blending units and three production sites, the new
combined Yara Brazil is present in all the key agricultural production areas and
segments, and is well positioned for continued growth.
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.
Yara will consolidate the acquired business effective 1 August 2013, 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
Cellular (+47) 48 07 53 56
E-mail thor.giaver(at)yara.com
Esben Tuman, Media Relations
Cellular (+47) 90 50 84 00
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#1721990]
Unternehmensinformation / Kurzprofil:
Datum: 09.08.2013 - 08:01 Uhr
Sprache: Deutsch
News-ID 286332
Anzahl Zeichen: 2856
contact information:
Town:
Oslo
Kategorie:
Business News
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"Closing of Yara acquisition of Bunge's fertilizer business in Brazil"
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