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Oslo-Based Yara Boosts its Ownership in Australian BHL

February 06/2012

(chemmonitor) -- The Oslo-headquartered (Norway) chemical giant Yara International ASA (Yara) acquired an additional stake in Perth-based (Australia) fertilizer company Burrup Holdings Limited (BHL).


 


The buyer paid a total of USD 143 million, raising its ownership in BHL from 35% to 51%. Meanwhile, the remaining stake of 49% was bought by a division of Houston-based (Texas, USA) Apache Corporation Apache Energy Ltd., which signed a new shareholders contract with Yara.

The agreement allows Yara (75.5% ownership) and Apache (24,5% ownership) to work together on the planned Burrup Nitrates project involving the construction of a 330,000 mtpa technical ammonium nitrate (TAN) unit, to be later renamed into Yara Pilbara.



mrcplast.com
Author:Anna Larionova
Tags:No
Category:General News
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