Yara announces the successful completion of the acquisition of Tata Chemicals’ urea business

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Yara International ASA (Yara), the world’s leading supplier of mineral fertilizers, today announced the successful completion of its acquisition of the Tata Chemicals’ urea business. The 421 MUSD deal included the transfer of all assets and liabilities (working capital) relating to the Babrala plant in Uttar Pradesh. It is the first foreign direct investment in the highly regulated urea sector.

Ambassador Kamsvåg congratulated Yara International on the acquisition, while noting that this move was a big leap forward in assisting the Indian government’s targets of increasing the income of farmers. “Over 100 Norwegian companies are currently working in India, and Norwegian investments in India are estimated to be around USD 14 billion. Norwegian businesses have directly generated at least 15000 jobs in India, and with moves like these, our cooperation with India will grow stronger,” said Ambassador Kamsvåg.

Read full text of Yara International’s press release here: http://www.yara.in/about-yara/india-aquisition/