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Yara completes acquisition of Tata Chemical’s urea business in India

Published by
World Fertilizer,

Yara International ASA has announced that it has completed the acquisition of Tata Chemicals’ urea business in India.

The President and CEO of Yara, Tore Holsether, said: “I am pleased to announce the completion of the acquisition of Tata Chemicals' urea business, which is a major step forward for Yara as we broaden our footprint in the world's second-largest fertilizer market. The inclusion of these assets in our global business will enable us to accelerate our growth in India.”

The acquired plant has a production of 0.7 million tpy of ammonia and 1.2 million tpy of urea, and, in the financial year ended 31 March 2017, generated revenues and profit before tax of US$296 million and US$29 million, respectively. The plant, which was commissioned in 1994, is reportedly India’s most energy efficient urea plant.

The transaction is valued at US$421 million on a debt and cash free basis and comprises a net operating capital value of US$130 million and other assets valued at US$291 million, with the operating capital value subject to post-closing adjustment.

Yara consolidated the acquired business effective 12 January 2018.

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India fertilizer news Urea news