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Yara International ASA Acquires Bunge's Fertilizer Business in Brazil; Enters into Long-Term Fertilizer Supply Agreement with Bunge

Friday, 7 Dec 2012 02:00am EST 

Yara International ASA (Yara) announced that it has entered into an agreement to acquire Bunge's fertilizer business in Brazil, strengthening its fertilizer position in the country. The proposed transaction is valued at USD 750 million, and will be subject to the approval of Brazilian competition authorities (CADE) and other customary approvals. Yara and Bunge have also agreed to enter into a long-term fertilizer supply agreement, enabling Bunge to continue supplying fertilizer to farmers as part of its grain origination activities, and creating a framework for logistics and other commercial activities. Bunge operates 22 blending units across Brazil, delivering 4.8 million tons of fertilizer products in 2011, with revenues of USD 2,648 million and an adjusted EBITDA of USD 77 million. The USD 750 million enterprise value comprises a net operating capital value of USD 385 million and other assets valued at USD 365 million. The operating capital value is subject to post-closing adjustment. With this agreement, Yara reinforces its position as a fertilizer company in Brazil. 

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