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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Yara Exits Retail in South Africa
8:23 AM MDT | May 21, 2010 | Ian Young
Yara International has agreed to sell its wholly owned fertilizer retail marketing activities in South Africa to Farmsecure (Tyger Valley, South Africa) and Yaraâ€™s 50% stake in retail company Sidi Parani (Douglas, South Africa) to its partner, the GWK (Douglas) cooperative. Yara is selling the assets at book value, and says that the book value of its retail activities in South Africa is about $100 million, mainly consisting of operating capital. Yara says its retail activities in South Africa have â€śover the last years not given a satisfactory profit.â€ť...
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