Yara sells chemical supply activities to Brenntag

4/25/2008, 8:31 AM (Source: GlobeNewswire)
Oslo (2008-04-25): Yara has reached agreement with the Brenntag Group to sell certain chemical supply activities at its Köping and Tertre sites, as part of the commitments agreed with the European Union for approval of its acquisition of Kemira GrowHow Oyj.
Oslo (2008-04-25): Yara has reached agreement with the Brenntag Group
to sell certain chemical supply activities at its Köping and Tertre
sites, as part of the commitments agreed with the European Union for
approval of its acquisition of Kemira GrowHow Oyj.


On 19 September 2007 Yara submitted a package of commitments to the
European Commission for the conditional approval of its acquisition
of Kemira GrowHow Oyj. One of the commitments concerned the
divestment by Yara of its AN solution, aqueous ammonia and weak
nitric acid supply activities conducted from the Köping production
site in Sweden and the AN solution, aqueous ammonia, weak nitric acid
and concentrated nitric acid supply activities conducted from the
Kemira GrowHow production site at Tertre, Belgium. In each case,
related production and distribution assets form part of the sales
package.
 
Yara has reached agreement with the Brenntag Group to sell the Köping
supply activities to Brenntag Nordic AB and the Tertre supply
activities to Brenntag NV. The European Commission has approved
Brenntag as a Purchaser and the form of the agreements. As a result,
a major step has been taken towards the fulfillment of the
Commitments to the European Union related to the approval of Yara's
acquisition of Kemira GrowHow Oyj.  Closing is conditional on
regulatory approvals and is expected to occur during the second
quarter of 2008.  The sale will result in a gain of EUR 11 million
which will be booked in Yara's second quarter results.
 
Yara is pleased that the customers of these businesses will be served
by a dedicated and professional operator, and looks forward to
supplying Brenntag under the new agreement.
 
 
 

Contact

 
Torgeir Kvidal, Investor Relations
Telephone  (+47) 24 15 72 95
Cellular (+47) 91 339 832
E-mail torgeir.kvidal@yara.com
 
Hamed Brodersen, Media Relations
Cellular (+47) 40 468 110
E-mail hamed.mozaffari.brodersen@yara.com
 
 
Yara International ASA is a 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 and agronomic solutions, we
help provide food for a growing world population. Our industrial
product portfolio includes environmental protection agents that
safeguard air and water purity and preserve food quality. Yara's
global workforce of more than 8,000 employees represents great
diversity and talent enabling Yara to remain a leading performer in
its industry.
www.yara.com
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