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Yara closes US$255M acquisition of Vale's fertilizer complex in Brazil

Yara International ASA completed the planned acquisition of Cubatão Fertilizantes complex in Brazil from Vale SA for about US$255 million, with the operating capital value subject to post-closing adjustment.

Brazilian antitrust authority Cade recently approved the transaction, which was agreed between the companies in November 2017.

Cubatão Fertilizantes has an annual production capacity of around 200 kilotons of ammonia, 500 kilotons of nitrates and 700 kilotons of phosphate fertilizer.

The complex employs around 1,015 permanent and 970 contracted employees.

Yara President and CEO Svein Holsether said in a May 15 release that the transaction would strengthen and grow the company's integrated position within the industrial and fertilizer domains, and marks the start of an "exciting new phase" for the Norwegian firm in Brazil.