OSLO (Reuters) - Norwegian fertilizer maker Yara (YAR.OL) expects synergies worth $50 million a year from a Brazilian acquisition, around twice as much as it predicted earlier, the firm said on Friday.
“When we first announced the deal, we went with a more conservative estimate of the synergies, but raised the figure after having more time to study the deal,” a company spokesman said.
Yara agreed to buy the Brazilian fertilizer business of commodities giant Bunge (BG.N) last December in a deal valued at $750 million. It predicted minimum annul synergies of $25 million.
Yara will consolidate the new business from Aug 1, it said on Friday.
Reporting by Jochim Dagenborg; editing by Balazs Koranyi