Yara bidding farewell to Qatar Fertiliser
Norwegian fertilizer producer Yara International (hereinafter – Yara) has signed an agreement with Qatar Petroleum to sell its 25% stake in the authorized capital of the joint venture Qatar Fertiliser for $ 1 billion.
Since the establishment of the joint venture Qatar Fertiliser Company in 1969, the company has become the world’s largest single-site urea manufacturer with the production capacity up to 5.6 million tons of urea per year.
Yara has owned 25% of its registered capital, the remaining 75% share is owned by Industries Qatar (its 51% of the registered capital is owned by Qatar Petroleum).
The deal between Yara and Qatar Petroleum is subject to approval by the Qatar government.