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Markets :: Basic Chemicals :: Inorganic Chemicals :: Fertilizers

Yara Sells Russian Fertilizer Stake to Businessman for $390 Million

10:58 AM MDT | August 3, 2011 | Natasha Alperowicz

Yara has announced that it will sell its indirect holding in the Russian fertilizer producer OAO Minudobreniya, which owns an NPK fertilizer production plant at Rossosh, Russia, for $390 million. In addition, Yara has received net dividends of $64 million ahead of the transaction.   Yara holds a 30% stake in OAO Minudobreniya, through a 37.692% interest in Cyprus based Yaibera Holdings, which owns 79.59% in OAO Minudobreniya. Yara and the other Yaibera shareholders have decided to sell their shares to Laguz Management, a company controlled...

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