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Yara to Sell Half its Stake in China Blue Chemical

8:45 AM MDT | April 8, 2008 | Kerri Walsh

Yara International says it plans to sell half of its 9% stake in China Blue Chemical (Hong Kong) for a net gain of about $22 million. The remaining shares are tied up under a share purchase agreement with a further lock-up period of 18 months, Yara says. Yara bought its 9% stake in 2006 when China Blue Chemical went public via an initial public offering. China Blue Chemical and Yara entered into an investment agreement at the time of the purchase. “After a thorough process, both companies today consider the likelihood of realizing the intentions in this...

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