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Hydro says may sell all Yara shares in spinoff

Norway's Norsk Hydro said on Monday that it might sell all of its 20 percent stake in its
fertiliser division Yara next month if an overallotment option
is fully subscribed.

OSLO, Feb 16 (Reuters) - Norway's Norsk Hydro said on Monday that it might sell all of its 20 percent stake in its fertiliser division Yara next month if an overallotment option is fully subscribed.

 It said it would sell at least half of its remaining
holding, or 10 percent of the stock.

 "It is planned that the sale will be carried out on March
25, together with the split and the listing of the Yara shares
on the Oslo bourse," Norsk Hydro said in a statement.

 In the spinoff, Norsk Hydro initially retains 20 percent of
the stock in the fertiliser company and will distribute 80
percent of it to current Norsk Hydro shareholders.

 

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