Norway's Yara International ASA divests stake in Sociedad Quimica y Minera de Chile SA

Nordic Business Report, April 22, 2008

NORDIC BUSINESS REPORT-22 April 2008-Norway's Yara International ASA divests stake in Sociedad Quimica y Minera de Chile SA(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian mineral fertilisers producer Yara International ASA (OSE:YAR) said on Tuesday (22 April) that it has divested its indirect holding of 8% in the Chilean mining company Sociedad Quimica y Minera de Chile SA (SQM).

Yara International held the shares through its Chilean intermediate holding companies Pampa Calichera, Oro Blanco, Norte Grande and SQYA.

"Yara has decided to sell its ownership in SQM to entities controlled by its partner, Sr Julio Ponce. SQM's successful development of its iodine and lithium businesses has increasingly exposed Yara to other businesses than fertiliser. The shares have therefore been sold to re-deploy funds to Yara's focused growth areas," Yara International said.

The transaction resulted in a pre-tax profit of USD80m.

Yara International, headquartered in Oslo, Norway, is the world's leading mineral fertilisers and agronomic solutions provider. The group has 8,000 employees worldwide and reported revenue of NOK57.5bn in 2007.

One British pound (GBP) is worth approximately 9.91 Norwegian kroner (NOK).

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