Yara International acquiring 60 per cent stake in Galvani Industria

Yara to acquire 60 pc stake in fertilizer company, Galvani

11:05 AM, 5th August 2014
Yara International acquiring 60 per cent stake in Galvani Industria

OSLO, NORWAY: Yara International ASA has entered into an agreement to acquire a 60 per cent stake in Galvani Industria, Comercio e Serviços S/A, for an enterprise value of $318 million. Galvani is an independent, privately held fertilizer company in Brazil. The acquisition is in line with Yara’s strategy for growth in Latin America, seeking to develop a production footprint in Brazil to complement its established position, following the recent acquisition of the Bunge fertilizer business in Brazil.

“This acquisition represents another significant step in realizing our Latin American growth strategy, further establishing our position in Brazil as a long-term industry player, committed to developing and investing in Brazilian agribusiness,” said Jorgen Ole Haslestad, President and Chief Executive Officer, Yara.

“The Galvani acquisition will help secure phosphate fertilizer capacity in the centre of the country and in the attractive and fast growing agri frontiers of Brazil. Furthermore Galvani brings excellent industry competence with cost-effective solutions for mining, production, blending and warehousing facilities,” added Jorgen Ole Haslestad.

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