Oslo (2005-01-03): As part of Yara's continuous efforts to streamline its operations and enhance its return on capital, Yara has sold its 20.1% shareholding in Ballance Agri-Nutrients in New Zealand to the majority owner Ballance Agri-Nutrients Cooperative.
Based on a mutual strategic understanding with the majority owner Ballance Agri-Nutrients Cooperative, Yara has agreed to sell its shares in Ballance Agri-Nutrients. At the same time Yara has entered into a supply agreement with Ballance and will continue to supply urea and other fertilizer products to the company.
The book value of Yara's shares in Ballance is approximately NOK 160 million. There will be a small book profit from the transaction, which will impact Yara's fourth quarter results.
Egil Hogna, Investor Relations
Telephone (+47) 24 15 71 66
Cellular (+47) 90 187 865
Arne Cartridge, Media Relations
Telephone (+47) 24 15 73 01
Cellular (+47) 47 900 900
Yara International ASA is the world's leading supplier of mineral fertilizers with particular strength in nitrogen based fertilizers. Yara has a local presence in 50 countries worldwide. Yara sells more than 20 million tonnes of mineral fertilizers in more than 120 countries. Yara offers fertilizers meeting the nutrient needs of local crops supported by agronomic advice to make farming more profitable and agriculture more sustainable. Yara has a strong position in industrial markets in Europe as a supplier of nitrogen based chemicals and is the leading supplier of liquid CO2.