Issue Date: August 8, 2011
Yara Sells Stake In Russian Plant
Norwegian fertilizer maker Yara plans to sell its 30% stake in OAO Minudobreniya, a fertilizer plant in Rossosh, Russia, to Laguz Management for $390 million. The plant has annual capacity of 1 million metric tons each of ammonia and nitrogen-phosphorus-potassium complex fertilizers, as well as 500,000 tons of ammonium nitrate. The lack of integration with its other fertilizer operations and the attractive price offered make it a good time to sell its minority stake, Yara says.
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