Overview
- YPF said its board approved on December 11 a binding offer from Adecoagro to acquire its 50% holding in Profertil.
- Combined with Nutrien’s recent sale of its half, the transaction results in Adecoagro owning 90% of Profertil and ACA 10%.
- The total consideration is reported at about US$1.2 billion, implying roughly US$600 million for each 50% stake.
- Completion of the sale remains subject to customary conditions set out in the share purchase agreement.
- Profertil produces about 1.3 million tonnes of urea and 790,000 tonnes of ammonia, supplying roughly 60% of Argentina’s urea market, as Adecoagro’s Tether-led US$300 million capital raise supports the buy and YPF refocuses on shale.