RSS   Newsletter   Contact   Advertise with us

CF Industries Holdings to buy remaining stake in GrowHow UK for $580 million

Staff writer ▼ | July 1, 2015
CF Industries Holdings will acquire the remaining stake in GrowHow UK, making the British fertilizer company its wholly owned subsidiary.
CF Industries Holdings
Cash acquisition   British fertilizer to be wholly owned by CF
CF Industries Holdings of Chicago will buy the 50% stake from Norway'sYara International for $580 million in cash in a transaction it expects to complete later this year. CF entered into a joint venture with GrowHow five years ago.

CF manufactures and distributes nitrogen products for agricultural and industrial customers. GrowHow, according to its website, supplies 40% of UK fertilizer needs.

"The operations have an advantaged position in an import-dependent region," said CF Chief Executive Tony Will, adding that CF expects "a mid-teens return profile for the acquisition."

Late last year, CF said merger talks with Yara to form the world's largest nitrogen fertilizer company had ended after the companies couldn't agree on terms and amid potential regulatory difficulties.