Overview
- Adecoagro and the Asociación de Cooperativas Argentinas are set to own 100% of Profertil with a 90%–10% split once closing conditions are fulfilled.
- The approval covers YPF’s 50% stake for US$600 million after Adecoagro recently purchased Nutrien’s half for a similar amount.
- Profertil’s Bahía Blanca complex produces about 1.3 million tonnes of urea and 790,000 tonnes of ammonia annually, supplying roughly 60% of Argentina’s urea demand.
- Adecoagro strengthened its financing with a US$300 million capital increase largely subscribed by Tether, which earlier this year became its controlling investor.
- Market focus now turns to a previously designed US$1.5 billion plan to double Profertil’s capacity, which the new ownership could revisit though no decision has been announced.