Yara International Acquires Saskferco

On October 1, 2008, a wholly owned subsidiary of Yara International ASA completed its acquisition of Saskferco Products ULC for $1.6 billion in enterprise value from The Mosaic Company, Investment Saskatchewan Inc. and Canadian Imperial Bank of Commerce. Saskferco is a leading producer of nitrogen fertilizer, which operates a world-class nitrogen manufacturing plant in Belle Plaine, Saskatchewan. Following the completion of the transaction, the target became known as Yara Belle Plaine Inc.

Yara International ASA is a leading chemical company that converts energy, natural minerals and nitrogen from the air into essential products for farmers and industrial customers and is the top supplier of mineral fertilizers and agronomic solutions worldwide.

Yara International was represented by Stikeman Elliott LLP with a team that included William Rosenberg, Howard Rosenoff and Andrea Cleven (corporate); Michel Gélinas and Stephen Hamilton (regulatory); Franco Gadoury and Josée Massicotte (tax); Larry Cobb and Jessica Penley (environmental) and Hélène Bussières (labour). In addition, Alan Higbee and Sally Woodward of Shutts & Bowen LLP provided advice on US regulatory matters, while Warren Sproule and Micheal McDougall of Kanuka Thuringer LLP assisted with local law matters.

Legal representation of Saskferco and its shareholders was provided by MacPherson Leslie & Tyerman LLP with a team that included Don Wilson, QC, Aaron Runge and Nathan Schissel (corporate), Todd Rosenberg (tax) and Danny Anderson (regulatory). The Mosaic Company was represented by Phil Bauer, its senior corporate counsel, Investment Saskatchewan Inc. was advised by Stuart Wicijowski and Ryan Laidlaw of McDougall Gauley LLP and Philip Lefko of CIBC World Markets Inc. represented CIBC.