Yara to sell its minority position in Rossosh
(Thomson Reuters ONE) -
Oslo (2011-08-03): Yara has decided to sell its indirect holding in the Rossosh
NPK plant in Russia for a total consideration of USD 390 million (NOK 2.1
billion). In addition Yara has received net dividends of USD 64 million (NOK
350 million) ahead of the transaction.
Yara controls 30 percent of OAO Minudobreniya, a fertilizer plant in Rossosh in
the Voronezh region of Russia. The position is owned through a 37.692 percent
interest in Yaibera Holdings Limited, which owns 79.59 percent in OAO
Minudobreniya. Yara and the other Yaibera shareholders have decided to sell
their shares to Laguz Management Limited, a company controlled by Arkady
Rotenberg.
The Rossosh plant has an annual production capacity of approximately one million
tons of ammonia, one million tons of NPK and 500 kilotons of ammonium nitrate.
"This transaction illustrates the value of nitrophosphate NPK and nitrate
capacity which delivers products with superior yield and environmental
performance compared with commodity fertilizers. While Yara remains committed as
the leading player in this sector, this minority position does not give the
optimal integration with Yara's global marketing system. The offer represents an
attractive price for a non-integrated position," says Jørgen Ole Haslestad,
President and CEO of Yara International ASA.
The sale of the Yaibera shares is expected to give Yara an income before tax of
approximately NOK 1.4 billion, to be booked in the third quarter.
Contact
Thor Giæver, Investor Relations
Telephone (+47) 24 15 72 95
Cellular (+47) 48 075 356
E-mailthor.giaver(at)yara.com
Bernhard Stormyr, Media Relations
Cellular (+47) 90 10 76 85
E-mailbernhard.stormyr(at)yara.com
Yara International ASA is the world's leading chemical company that converts
energy, natural minerals and nitrogen from the air into essential products for
farmers and industrial customers. As the number one global supplier of mineral
fertilizers, we help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that prevent air
pollution. Yara's global workforce of 7,300 employees represents the great
diversity and knowledge that enables Yara to remain a leading performer in the
industry.
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#1535889]
Unternehmensinformation / Kurzprofil:
Datum: 03.08.2011 - 12:01 Uhr
Sprache: Deutsch
News-ID 56938
Anzahl Zeichen: 3290
contact information:
Town:
Oslo
Kategorie:
Business News
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"Yara to sell its minority position in Rossosh"
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