Yara to sell Fosfertil shares

(Thomson Reuters ONE) - Oslo (2010-01-29):  Yara has agreed with Vale to sell its shares in Fosfertil inBrazil for USD 785 million. Yara will also sell its stake in the Anitapolisphosphate rock project to Vale at the same time.Yara owns directly and indirectly 15.5 percent of Fosfertil following theacquisition of Fertibras in 2006. Fosfertil is the biggest producer of phosphateand nitrogen fertilizers in Brazil. The company owns three phosphate mines, twoammonia plants and finished fertilizer plants with an upgrading capacity of 3.4million tons phosphate rock and 0.6 million tons ammonia per year.The Anitapolis project where Yara owns 50%, is a project for developing aphosphate mine in Brazil and was acquired when Yara bought Adubos Trevo in2000. The project is still at an early stage, but significant development workhas been done."Brazil remains an important growth market for fertilizer and Yara, but aminority position in Fosfertil is not giving the optimal operational integrationwith Yara's fertilizer marketing in Brazil, a marketing activity that we willcontinue to develop. We see the offer from Vale as an attractive price for anon-integrated position," says J?n Ole Haslestad, President and CEO of YaraInternational ASA.The sale is conditional upon Bunge selling their shares in Fosfertil to Vale,being subject to some precedent conditions.The sale of the Fosfertil shares will give Yara a profit before tax ofapproximately USD 550 million and is expected to close in the second quarter of2010. The sale of the Anitapolis shares will create a small profit.ContactTorgeir Kvidal, Investor RelationsTelephone  (+47) 24 15 72 95Cellular (+47) 91 339 832E-mail torgeir.kvidal(at)yara.com Asle Skredderberget, Media RelationsCellular (+47) 41 44 36 10E-mail asle.skredderberget(at)yara.com Yara International ASA is the world's leading chemical company that convertsenergy, natural minerals and nitrogen from the air into essential products forfarmers and industrial customers. As the number one global supplier of mineralfertilizers, we help provide food for a growing world population. Our industrialproduct portfolio includes environmental protection agents that prevent airpollution. Yara's global workforce of 8000 employees represents the greatdiversity and knowledge that enables Yara to remain a leading performer in theindustry.www.yara.com This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1378493]

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Datum: 29.01.2010 - 02:16 Uhr
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