English | 简体中文 | 繁體中文 | 한국어
Completion of Yara's acquisition of Tata Chemicals' urea business in India

Oslo, 12 January 2018: Yara International ASA has completed its acquisition of Tata Chemicals' urea business in India, marking a significant step forward for its growth ambitions in India.

"I am pleased to announce the completion of the acquisition of Tata Chemicals' urea business, which is a major step forward for Yara as we broaden our footprint in the world's second-largest fertilizer market. The inclusion of these assets in our global business will enable us to accelerate our growth in India," said Svein Tore Holsether, President and Chief Executive Officer of Yara.

The acquired plant has an annual production of 0.7 million tonnes ammonia and 1.2 million tonnes urea, and generated revenues and profit before tax of respectively USD 296 million and USD 29 million in the financial year ended 31 March 20171. The plant was commissioned in 1994, and is the most energy-efficient urea plant in India, comparable with Yara's best plants.

The transaction is valued at USD 421 million on a debt and cash free basis and comprises a net operating capital value of USD 130 million and other assets valued at USD 291 million, with the operating capital value subject to post-closing adjustment.

Yara will consolidate the acquired business effective 12 January 2018.

1 Tata Chemicals Annual Report 2016-17, Note 31. Figures are translated to at INR/USD rate of 63.5.

For further information, please contact:

Thor Giæver, SVP Investor Relations
Office: (+47) 24 15 72 95
Mobile: (+47) 48 07 53 56
E-mail: thor.giaver@yara.com

Esben Tuman, Vice President Corporate Communications
Mobile: (+47) 90 50 84 00
E-mail: esben.tuman@yara.com

Kristin Nordal, Head of External Communications
Mobile: (+47) 90 01 55 50
E-mail: kristin.nordal@yara.com

About Yara

Yara's knowledge, products and solutions grow farmers', distributors' and industrial customers' businesses profitably and responsibly, while 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 15,000 employees and sales to about 160 countries.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Yara International ASA via Globenewswire

Copyright © Thomson Reuters 2018. All rights reserved.
Press Releases
Norsk Hydro: Hydro to upgrade water treatment system at Alunorte  
Mar 16, 2018 22:10 ET
FERRATUM OYJ: Ferratum Group BBB+ rating confirmed  
Mar 16, 2018 20:30 ET
GAM Holding AG: proposal of new member for the Board of Directors  
Mar 16, 2018 18:31 ET
Mandatory notification of trade  
Mar 16, 2018 14:04 ET
Bavarian Nordic Announces Partnership with U.S. Department of Defense to Combat Equine Encephalitis Virus  
Mar 16, 2018 13:54 ET
Behind the Wheel: Case IH and New Holland mark the start of Brazil's soybean harvest  
Mar 15, 2018 22:33 ET
New Lubrizol® PV2600 Series Approved for Mercedes-Benz MBQL 229.71  
Mar 15, 2018 21:13 ET
Lubrizol® SG9L60 Awarded Product Development of the Year  
Mar 14, 2018 07:03 ET
CNH Industrial: periodic report on the buy-back program  
Mar 12, 2018 18:33 ET
CNH Industrial: periodic report on the buy-back program  
Mar 12, 2018 18:13 ET
More News >>
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: