Yara International ASA has obtained relevant regulatory approvals and closed the acquisition of OFD Holding Inc. (OFD) allowing the integration process to start.

The OFD operations comprise production facilities in Cartagena, Colombia and distribution companies across Latin America.

Regulatory approvals have been obtained in almost all jurisdictions, including commitments which are not expected to materially impact the profitability of the acquisition.

"We welcome the approvals from regulatory authorities which now allow us to close the acquisition and start the integration process. This is an important milestone which paves the way for Yara's further development in Latin America, creating value for Yara's shareholders and contributing to agricultural, industrial and mining sector growth in the region. I would like to welcome all our new employees in Colombia, Costa Rica, Mexico, Bolivia, Peru and Panama," said Jørgen Ole Haslestad, President and Chief Executive Officer of Yara International ASA.

The final enterprise value is USD 377 million, which is USD 47 million lower than previously communicated, due to a correspondingly lower level of working capital.

The transaction will be financed from the existing cash balance of Yara International ASA.

OFD owns and operates a fertilizer production facility in Cartagena with an annual capacity of approximately 320 kilotons (kt) compound NPK, 100 kt calcium nitrate (CN) and 70 kt ammonium nitrate (AN), with integrated ammonia production. OFD also controls approximately 700 kt of NPK blending capacity across 12 sites and 100 kt liquid fertilizer capacity as part of its fertilizer distribution network across Colombia, Mexico, Peru, Bolivia, Costa Rica and Panama.

In 2013 OFD sold 1,211 kt of fertilizer, generating net revenues of USD 693 million and an EBITDA of USD 42 million. Yara confirms expected annual synergies of USD 20 million.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

For more information
Thor Giæver, Investor Relations
T: (+47) 24 15 72 95
M: (+47) 48 07 53 56

Esben Tuman, Media Relations
T: (+47) 24 15 70 26
M: (+47) 90 50 84 00