Uralkali: looking to jump the queue in Brazil | beyondbrics

Uralkali: looking to jump the queue in Brazil | beyondbrics:



"Russian potash producer Uralkali has decided to invest in port infrastructure in Brazil in a move to bolster its position in the world’s fastest growing fertilizer market.



In a statement on Friday, Uralkali said it had acquired a 25 per cent of Equiplan Participaceos, the main shareholder in Terminais Portuarios da Ponta do Felix, a terminal in the city of Antonina on Brazil’s southern coast.



“Brazil is traditionally one of the most active users of potash fertilizers,” said Oleg Petrov, Uralkali sales and marketing director. “This investment will enable us to make another step towards expanding operations in Latin America.”



Uralkali has not disclosed the terms of the deal. However, a source familiar with the transaction told Kommersant, that the Brazilian acquisition had cost $35m – roughly 2 per cent of Uralkali’s estimated 2013 earnings before interest, tax, depreciation and amortisation."



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