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Closing of Yara acquisition of Vale Cubatão Fertilizantes complex in Brazil

Thursday, 17 May 2018 | 00:00

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.
Source: Yara

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