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People & Business :: Companies
Yara and Apache Carve up Australian Fertilizer Producer
7:58 AM MST | February 1, 2012 | Ian Young
Yara International has acquired an additional 16% stake in fertilizer company Burrup Holdings Ltd. (BHL; Perth, Australia) for $143 million, raising its stake in BHL to 51%. Meanwhile, Apache Energy, a subsidiary of Apache Corp. (Houston), has bought the remaining 49% of BHL for $439 million. Yara and Apache purchased the BHL stakes from ANZ Bank (Melbourne), and they have signed a shareholders' agreement under which Yara will become the operator of BHL's fertilizer manufacturing assets. Receivers appointed by ANZ Bank put the combined 65% stake in BHL up for...
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