Yara International ASA, Oslo, said on Aug. 25 that the demerger and triangular merger of Yara Clean Ammonia (YCA) business have now been completed. Yara’s shareholders will have the same number of shares in the company, and the nominal value of the shares in Yara will be the same as before the demerger and triangular merger.
YCA had been transferred to intermediary company Yara Clean Ammonia NewCo AS, and the intermediary was merged with YCA by way of a triangular merger before opening of the market on the Oslo Stock Exchange on Aug. 25.
YCA was established as a separate segment and business division in February 2021 to focus on green and blue ammonia (GM Feb. 12, 2021). Yara announced in May that it was evaluating the division as an initial public offering (GM May 6, p. 36).
Yara said YCA is uniquely positioned to enable the hydrogen economy in a market expected to grow substantially over the next decades. It said it plans to significantly strengthen its leading global position as the world’s largest ammonia distributor, unlocking the green and blue value chains and driving the development of clean ammonia globally.
Yara said YCA, also headquartered in Oslo, operates the largest global ammonia network with 12 ships, and has access to 18 ammonia terminals and multiple ammonia production and consumption sites across the world through Yara. Revenues and EBITDA for the last 12 months were US$3.64 billion and US$172 million as of second-quarter 2022.