Yara International ASA ADROTCPK - Current
Yara International Continues To Execute Well In A Turbulent Market
Stephen Simpson, CFA
Stephen Simpson, CFA
Thu, Oct. 27, 11:59 AM
- Vale (VALE +0.8%) is set to go ahead with the sale of its fertilizer business after its board of directors gave its approval, Reuters reports, citing the Valor Economico newspaper.
- Most of the fertilizer assets will be sold to Mosaic (MOS -1%), while its plants in Cubatão, São Paulo likely will go to Yara International (OTCPK:YARIY +1.3%), according to the report.
- Reuters reported earlier this month that Vale was negotiating the sale with MOS and Yara for at least $3.6B.
- Vale's board reportedly also approved the sale of its Carborough Downs coal mine, the company's last operating mine in Australia.
Fri, Oct. 21, 6:22 AM
Thu, Oct. 6, 8:18 AM
- Vale's (NYSE:VALE) plan to dispose of fertilizer assets remains on track despite a request last week by Brazil's state development bank to analyze the deal more carefully, Reuters reports.
- Terms of the deal, which involves the sale of ~$3.6B in assets to Mosaic (NYSE:MOS) and potentially certain other operations with Norway's Yara International (OTCPK:YARIY), are unlikely to change significantly, according to the report.
- The bank reportedly pushed back the vote on the fertilizer deal at a Vale board meeting last Thursday.
Thu, Jul. 21, 8:52 AM
Thu, Apr. 21, 9:03 AM
- Yara International ASA ADR (OTCPK:YARIY): Q1 EPS of NOK9.14
- Revenue of NOK25.05B (-9.8% Y/Y)
Tue, Apr. 12, 4:00 AM
- Danske Bank downgrades Yara International to Hold from Buy.
- Price target NOK 335. Implied upside 8%.
- Yesterday, HSBC downgraded Yara to Reduce from Hold and cut its price to NOK 285. Implied downside 8%. Firm said it expects fertilizer prices will remain depressed.
- Now read Yara International's Q4 earnings call »
Thu, Apr. 7, 4:59 PM
- Yara International (OTCPK:YARIY) acknowledges it made “unacceptable payments” to executives at a Russian-owned phosphate producer, confirming a report partly based on the “Panama Papers” and shedding new light on a corruption scandal which led to Norway’s biggest-ever corporate fine in 2014.
- The broader police investigation concluded in 2014 when Yara agreed to pay a NOK295M fine ($35.6M) after admitting to paying bribes in Libya, India and Russia.
- The amount of the "unacceptable payments" is still not known.
Wed, Apr. 6, 9:17 AM
- Vale (NYSE:VALE) cuts its 2016 capex outlook to $5.5M from $6.2M previously, and reiterates in a presentation that it plans to sell core assets in an attempt to lower its debt by $10B.
- Vale says its free cash flow already is near balance for the year and expects solid cash generation in 2016 regardless of price conditions in iron ore markets.
- Separately, Brazilian newspaper Valor reports Vale could sell a minority stake in its fertilizer unit by the end of the year, possibly to Norwegian fertilizer maker Yara International (OTCPK:YARIY), in a deal that could fetch $1.2B.
- Now read Vale confirms sale of CSA steel plant stake to ThyssenKrupp
Thu, Feb. 11, 9:27 AM
- Yara International ASA ADR (OTCPK:YARIY): Q4 EPS of NOK1.58
- Revenue of NOK25.72B (-1.9% Y/Y)
Sep. 15, 2015, 7:58 AM
- Praxair (NYSE:PX) agrees to acquire carbon dioxide and dry ice assets from Norwegian fertilizer supplier Yara International (OTCPK:YARIY) for €312M ($353M) to expand its activities serving the food and beverage sector in Europe.
- PX says the acquisition is part of its effort to expand in regions where it can gain cost savings as well as “enhancing our presence in non-cyclical segments such as food and beverage."
- Yara’s European carbon dioxide unit operates three CO2 ships, seven terminals, six dry ice production facilities and five CO2 liquefaction plans; Yara will continue to operate three of the liquefaction plants.
Jul. 1, 2015, 8:14 AM
- CF Industries (NYSE:CF) agrees to acquire the remaining 50% equity interest in GrowHow UK Ltd. from Yara International (OTCPK:YARIY) for $580M.
- CF has now agreed to buy out Yara's interest in the 50/50 joint venture operating the GrowHow production units in Britain that was formed in 2010.
- GrowHow owns and operates two nitrogen production facilities in the U.K. with a combined capacity to produce ~0.9M short tons of gross ammonia, 1.2M short tons of AN and 0.4M short tons of NPK compounds.
Mar. 30, 2015, 10:59 AM
- Yara International (OTCPK:YARIY, OTCPK:YRAIF) hires Svein Tore Holsether, the head of Swedish aluminum products company Sapa, as its new CEO.
- The Norwegian fertilizer maker company originally had hired Norsk Hydro CEO Svein Richard Brandtzaeg for the job, but he withdrew before taking up the post when Yara began merger talks with CF Industries last September; during the talks, Yara fired its then-CEO Joergen Ole Hasslestad and promoted Torgeir Kvidal to acting CEO.
- Kvidal now will return to his former position of CFO.
Feb. 19, 2015, 7:09 AM| Feb. 19, 2015, 7:09 AM
Oct. 22, 2014, 11:59 AM
- Norwegian fertilizer producer Yara (OTCPK:YARIY -1.6%) reports a 9% Y/Y rise in net profit on rising revenue, and says it will invest 2.25B kroner ($343M) to boost production capacity at the Porsgrunn plant in Norway.
- Yara's Q3 net profit totaled 1.71B kroner vs. 1.57B in the year-ago quarter but short of analyst consensus estimate of 2.24B kroner.
- Q3 revenue totaled 24.1B kroner, above 20.6B a year ago and expectations this quarter for 21.6B; EBIT was 2.76B, up from 2.39B a year ago but below expectations of 3.16B.
Oct. 16, 2014, 6:35 PM
- CF Industries (NYSE:CF) and Yara International (OTCPK:YARIY) have terminated merger talks that would have created the world's largest maker of nitrogen-based crop nutrients.
- “Although we identified very significant operational and structural synergies, we were ultimately unable to agree on terms of a transaction that met the requirements of all our respective shareholders,” CF says.
- CF and Yara said Sept. 23 that talks toward a “merger of equals” were at an early stage.
- CF -3.1% AH.
Oct. 7, 2014, 7:52 AM
- Yara International (OTCPK:YARIY) says Jorgen Ole Haslestad has resigned as CEO amid merger talks with CF Industries (NYSE:CF), and has appointed Torgeir Kvidal as acting CEO.
- Yara and CF Industries said last month they were in merger talks to form the world's biggest producer of nitrogen fertilizers, but Yara says Haslestad "would not have a role in a potential merged company."
- Kvidal has been Yara's CFO since 2012 and joined Norsk Hydro in 1991, before the Yara de-merger in 2004; Haslestad has been CEO since 2008, and had said he planned to retire when Yara appointed a new CEO.