Yara proceeds with USD 185 million payment and equity injection for Salitre project
(Thomson Reuters ONE) -
Oslo, 2 November 2015: Yara International ASA has paid USD 185 million deferred
consideration and capital injection for the Salitre phosphate project, based on
project progress and in accordance with agreements entered into with the
acquisition of 60% of Galvani (Brazil) on 1 December 2014.
Reference is made to earlier Yara announcements on 5 August 2014 and 1 December
2014. The USD 185 million is paid based on project progress including
confirmation of phosphate reserves, and consists of USD 96 million deferred
consideration, USD 54 million Yara capital injection and USD 36 million capital
injection on behalf of the minority owners. USD 70 million of the deferred
consideration will be held in an escrow account which together with a pledge in
minority shares guarantees the capital and operating expenditure levels for the
projects.
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
Telephone: (+47) 24 15 70 26
Mobile: (+47) 90 50 84 00
E-mail: esben.tuman(at)yara.com
About Yara
Yara's knowledge, products and solutions grow farmers', distributors' and
industrial customers' businesses profitably and responsibly, while nurturing and
protecting the earth's resources, food and environment.
Our fertilizers, crop nutrition programs and technologies increase yields,
improve product quality and reduce the environmental impact of agricultural
practices. Our industrial and environmental solutions improve air quality by
reducing emissions from industry and transportation, and serve as key
ingredients in the production of a wide range of goods. We foster a culture that
promotes the safety of our employees, contractors and societies.
Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide
presence, with more than 12,000 employees and sales to more than 150 countries.
www.yara.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1963115]
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2015 - 08:02 Uhr
Sprache: Deutsch
News-ID 431011
Anzahl Zeichen: 2897
contact information:
Town:
Oslo
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Yara proceeds with USD 185 million payment and equity injection for Salitre project"
steht unter der journalistisch-redaktionellen Verantwortung von
Yara International ASA (Nachricht senden)
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