Yara International ASA, Oslo, and Arab Potash Co., Amman, have decided to end all discussions under the Memorandum of Understanding dated Jan. 29, 2018, in relation to potential cooperation in the field of potassium nitrate through APC’s subsidiary, Kemapco, and to terminate the same, according to a Bloomberg report citing a statement from both companies. As a result, Yara will not be pursuing an ownership stake in Kemapco.
The parties said they appreciate the efforts exerted in this regard by both companies and remain interested in exploring other mutually beneficial avenues.