Yara sells 50% of its share in GrowHow UK for CF Industries

Yara International, a Norwegian fertilizer segment giant, today announced the sale of its 50% slice in GrowHow UK British for CF Industries. The value of the transaction was $ 648 million, according to a statement sent by Yara.
CF Industries, of American origin, already owned the other 50 percent of GrowHow UK, serving basically the United Kingdom. The GrowHow UK has two production sites of fertilizer on Ince and Billingham, with total production capacity of approximately 800 thousand tons of ammonia, 1.1 million tons of ammonium nitrate and 500 thousand tons of NPK compound. In 2014, the company presented an Ebitda (earnings before interest, taxes, depreciation and amortization) of $ 156 million.
Yara expects the sale to generate an after-tax gain of about 3 billion kroner (equivalent to US $ 380 million), based on the may numbers of the company.