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Yara's European CO2 business sold to Praxair

Yara has signed the transaction documents for the sale of its European CO2 business and its remaining 34% stake in the Yara Praxair Holding AS joint venture to U.S.-based Praxair, Inc. for EUR 300 million.

Reference is made to Yara's announcement on 15 September 2015. The planned completion date is 1 June 2016 (subject to relevant merger control procedures) with a provisionally estimated post-tax gain of EUR 150 million including the Yara Praxair Holding AS sale.

The sale also includes an agreement for Yara to supply Praxair with raw CO2, gas and continue to operate three of the CO2 liquefaction units which are integrated within Yara's fertilizer plants.