CF sells stake in Keytrade, buys out Yara in GrowHow

摘要

In the span of less than a week, CF Industries Holdings Inc. announced on June 26 that it was selling its 50 percent stake in Keytrade AG back to the principals, and reported on July 1 that it was buying Yara International ASA's 50 percent stake in GrowHow UK Ltd. CF bought the Keytrade stake back in 2007 (GM Sept. 24,2007). The companies explained that following the divestiture of CF's phosphate segment to The Mosaic Co. in 2014 (GM March 24, 2014), the nature of the joint business between CF and Keytrade changed, since one of the initial reasons for the jv was for Keytrade to market CF phosphate exports. It was also to import UAN, of which CF now has significant and growing UAN capacity, what with the 2010 acquisition of Terra Industries Inc. (GM April 19, 2010), as well as recent brownfield expansion.