Qatar Petroleum (QP) said on Sunday it had signed an agreement with Yara interna...
FILE PHOTO: Cars are parked outside the headquartes of Qatar Petroleum in Doha, Qatar, July 8, 2017. REUTERS/Stringer
- Qatar Petroleum said on Sunday it had signed an agreement with Yara international to acquire its 25 percent stake in Qatar Fertiliser Company for $1 billion, according to statements by both companies. The transaction will mark a conclusion of a partnership that started with establishing QAFCO, a joint venture, in which Yara owned a 25% share with the remaining 75% owned by Industries Qatar , which in turn is owned 51% by QP.
QAFCO since then has become the world’s largest single-site urea producer, representing a significant percentage of the world’s traded urea volume, according to a QP statement.Yara, one of the world’s leading fertilizer companies, said it will evaluate potential extraordinary dividends and/or share buy-backs, in line with its policy of maintaining a mid- to long-term net debt/EBITDA range of 1.5-2.0, after the closing of the transaction.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Twitter CEO Jack Dorsey faces a moment of reckoningElliott Management, the activist hedge fund led by Paul Singer, is pushing for CEO Jack Dorsey to be replaced after taking a $1-billion stake in Twitter.
Read more »
Found: The most amazing rainbow highlighter for just $1The low cost initially intimidated me, but this lightweight powder gives skin an illuminating glow.
Read more »
Mike Bloomberg couldn't give every American $1 million if he wanted to - Business InsiderIf Mike Bloomberg divided his campaign budget between every American, each person would get less than $2. Brian Williams and Mara Gay said otherwise.
Read more »
Missing Idaho kids: Bond for Lori Vallow reduced to $1 millionA judge has reduced the bond for Idaho mother Lori Vallow — whose 2 children have not been seen since September — from $5M to $1M, but ordered her to wear an ankle monitor if she came up with the money.
Read more »
Fed to cut rates again in March, but effectiveness challenged: Reuters pollPresident Trump said the Federal Reserve should cut interest rates in line with other central banks
Read more »
Shopbop’s Sale Is a Gold Mine for Spring ClothesWe're talking about 25% off Ganni, Levi's, Free People, and more.
Read more »