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Brazil: CADE approves Vale-Yara fertilizer deal

By  |  May 10, 2018

Brazil’s antitrust watchdog Cade has approved without restrictions the Vale-Yara fertilizer deal, according to Reuters. The regulator is sanctioning a deal that will allow the Norwegian giant to produce nitrogen-based fertilizers in Brazil.

Six of Cade’s seven board members voted to approve the US$255 million transaction without demanding any asset sales or behavioural restrictions. One board member, Paula Farani, withheld from voting.

A Cade technical body approved the transaction in March, arguing it would not grant Yara a dominant foothold in any of the markets where it operates.

Yet Cade board member João Paulo Resende last month asked the regulator’s board take a closer look at the deal after state-controlled oil company Petróleo Brasileiro, known as Petrobras, announced it would mothball two fertilizer plants in northeast Brazil.

Full Content: Reuters

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