Brazil: Fertilisers Yara International Closes Acquisition of Vale Cubatão Complex for 255 Million Dollars
The nitrogen and phosphate complex produces an annual production capacity of 200 kilo tonnes of ammonia, 500 kilo tonns of nitrates and 700 kilo tonnes of phosphate fertiliser. The acquisition aims at strengthening the company’s position in Brazil.
Oslo/Norway – Yara International has closed its acquisition of the Vale Cubatão Fertilizantes complex, strengthening the company’s integrated position in Brazil. The acquisition marks the start of an exciting new phase in Brazil for the firm as the acquisition brings nitrogen production assets into its growing portfolio in Brazil, strengthening and growing its integrated position within both industrial and fertilizer.
The Cubatão asset is a nitrogen and phosphate complex with an annual production capacity of approximately 200 kilo tonnes of ammonia, 500 kilo tonns of nitrates and 700 kilo tonnes of phosphate fertilizer. The complex employs approximately 1,015 permanent and 970 contracted employees.
The transaction is valued at 255 million dollars, with the operating capital value subject to post-closing adjustment. The firm will consolidate the acquired business effective May 15, 2018, including possible goodwill, and measure all identifiable assets acquired and liabilities assumed at their acquisition-date fair values.