OSLO, Aug 5 (Reuters) - Norwegian fertilizer firm Yara agreed to buy a 60 percent stake in Brazil’s privately held Galvani Indústria for $318 million, including debt, Yara said on Tuesday.
Yara has also agreed to inject a total of $165 million in fresh equity, under certain conditions and would also support total capital expenditure of $920 million until 2019, it said.
“With Yara’s share of the company’s debt being $93 million, the resulting total equity exposure for Yara will be $390 million,” Yara said.
Galvani Indústria operates phosphate mines and also produces and distributes fertilizer in Brazil. (Reporting by Balazs Koranyi)