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People & Business :: Companies
Yara to Sell Half its Stake in China Blue Chemical
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. â€śAfter a thorough process, both companies today consider the likelihood of realizing the intentions in this...
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