#Qatar Petroleum acquires Yara's 25% stake in Qatar Fertiliser Co for $1 billion - Reuters

Qatar Petroleum acquires Yara's 25% stake in Qatar Fertiliser Co for $1 billion - Reuters:

Qatar Petroleum (QP) said on Sunday it had signed an agreement with Yara international to acquire its 25 percent stake in Qatar Fertiliser Company (QAFCO) 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 (IQ), 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.

The deal is still pending necessary local regulatory approvals and customary closing conditions.