OCP SA, Casablanca, and Spain’s Fertinagro Biotech S.L., announced today they have completed the acquisition by OCP, via a subsidiary, of 20 percent of Fertinagro’s shares by way of a capital increase. The two companies reached an agreement for the deal in June.
All regulatory approvals have been secured and the capital increase has been approved by Fertinagro’s shareholders.
As part of the transaction, the two companies have signed an intellectual property and know-how license agreement as well as a co-development agreement. OCP said this is in line with its strategy to boost innovation and offer customised fertility solutions to meet famers’ specific needs.
Yara International ASA, Oslo, reported third-quarter net income after non-controlling interests of US$98 million (0.36 per share), compared with $90 million ($0.33 per share) a year earlier. Excluding currency effects and special items, the result was $0.57 per share compared with $0.41 per share in the third quarter 2017.
“Yara reports a 16 percent improvement in underlying EBITDA, as higher sales prices more than offset increased energy cost. Our NPK margins in particular were stronger than last year,” said Svein Tore Holsether, Yara president and CEO.
Total fertilizer deliveries were 9 percent higher compared to a year earlier, driven by the Babrala acquisition in India and the Cubatão acquisition in Brazil. Industrial deliveries were 13 percent higher than a year ago. Excluding the acquisitions, fertilizer and Industrial deliveries were respectively 3 percent lower and 6 percent higher.
SQM, Santiago, is also in talks to buy specialty fertilizer maker Haifa Chemicals, according to a report in the Calcalist. Earlier reports also have Israel Chemicals Ltd. as a contender.
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