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The transaction will mark the conclusion of a long-standing and highly value-
creating partnership.
Since the establishment of the joint venture company QAFCO in 1969, the company
has become the world’s largest single-site urea producer, representing a
significant percentage of the world’s traded supply. Yara has owned a 25% share
in QAFCO, with the remaining 75% share owned by Industries Qatar (IQ), which in
turn is owned 51% by QP.
The parties have agreed on a purchase price of USD 1 billion for Yara’s shares
in QAFCO. The transaction is conditional on obtaining necessary local
regulatory approvals and customary closing conditions.
“We are very proud of our partnership with Qatar Petroleum and Industries Qatar
over the past half century, where we have succeeded in delivering a top quartile
venture in every respect,” said Svein Tore Holsether, President and Chief
Executive Officer of Yara.
Following closing of the transaction, Yara will evaluate potential extraordinary
dividends and/or share buy-backs, in line with its policy of maintaining a mid
to long-term net debt/EBITDA range of 1.5-2.0.
Contact
Thor Giæver, Investor Relations
Mobile: (+47) 480 75 356
E-mail: thor.giaver@yara.com
(mailto:thor.giaver@yara.com)Kristin Nordal, Media Relations
Mobile: (+47) 900 15 550
E-mail: kristin.nordal@yara.com
(mailto:kristin.nordal@yara.com)About Yara
Yara grows knowledge to responsibly feed the world and protect the planet.
Supporting our vision of a world without hunger, we pursue a strategy of
sustainable value growth, promoting climate-friendly and high-yielding crop
nutrition solutions for the world’s farming community and food industry.
Yara’s ambition is to be the Crop Nutrition Company for the Future. We are
committed to creating value for our customers, shareholders and society at
large, as we work to develop a more sustainable food value chain. To achieve our
ambition, we have taken the lead in developing digital farming tools for
precision farming, and work closely with partners throughout the food value
chain to improve the efficiency and sustainability of agriculture and food
production.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a
unique position as the industry’s only global crop nutrition company. With our
integrated business model and a worldwide presence of around 16,000 employees
and operations in over 60 countries, we offer a proven track record of
responsible and reliable returns. In 2019, Yara reported revenues of USD 12.9
billion.
www.yara.com
(http://www.yara.com)This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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