- (PLX AI) - Yara to sell its Salitre phosphate mining project in Brazil to EuroChem for a cash consideration of USD 410 million.
- • Yara says the project progress has been impacted by Covid 19, and significant construction time and capital expenditure remains to reach completion
- • This transaction allows us to further sharpen our strategic focus, based on our strong competitive edges. Yara Brazil will continue to play an essential role in this growth agenda, and this transaction enables that growth to be driven with a sharper downstream focus, Yara CEO says
- • Following the decision to divest, it is expected that the impacted assets will be classified as a held-for-sale disposal group in the third quarter 2021 and that an impairment charge of approximately USD 400 million will be recognized in the same quarter
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