Yara announces the successful completion of the acquisition of Tata Chemicals’ urea business
- The acquisition will strengthen Yara’s footprint in India
- Vision to contribute towards Prime Minister’s goal of doubling farmers’ income by 2022
New Delhi, 12 January 2018: Yara International ASA (Yara), the world’s leading supplier of mineral fertilizers, today announced the successful completion of its acquisition of the Tata Chemicals’ urea business. The 421 MUSD deal included the transfer of all assets and liabilities (working capital) relating to the Babrala plant in Uttar Pradesh. It is the first foreign direct investment in the highly regulated urea sector.
With this acquisition, Yara gains a significant position in the Northern region, with access to a strong network of 650-700 dealers. It will enable the company to provide enhanced crop nutrition solutions to farmers in North India which has 31 million hectares (Ha) of grain and 4 million Ha of horticulture crops. Yara’s turnover which is currently around USD 40 Mn in India will increase to USD 350 Mn.