YPF to Divest 50% Stake in Profertil to Adecoagro for US$600 Million

YPF Confirms Sale of Profertil Stake to Adecoagro

Argentina's state-owned energy company, YPF SA, has announced its acceptance of a binding offer from Adecoagro S.A. to acquire its 50% stake in Profertil S.A., the nation's top nitrogen fertilizer manufacturer. The transaction is valued at approximately US$600 million. This divestment is a strategic move for YPF, allowing it to concentrate on its core oil and gas ventures, particularly the development of the Vaca Muerta shale formation.

Adecoagro to Become Controlling Shareholder

The acquisition will position Adecoagro as the controlling shareholder of Profertil, holding a substantial 90% ownership. The remaining 10% of Profertil's shares will be held by Asociación de Cooperativas Argentinas (ACA). This development follows Adecoagro's earlier agreement to acquire a 50% interest in Profertil from North American fertilizer producer Nutrien Ltd., bringing its total stake to 90% upon completion of both transactions.

Mariano Bosch, Co-Founder and Chief Executive Officer of Adecoagro, highlighted the strategic importance of the deal, stating, 'This transaction marks a significant milestone for Adecoagro, enhancing our scale, diversifying our portfolio, and strengthening the Company's long-term performance.'

Profertil's Market Position and Operational Details

Profertil S.A. is recognized as South America's largest producer of granular urea and plays a critical role in Argentina's agricultural sector, supplying approximately 60% of the country's urea consumption. The company operates a state-of-the-art industrial complex in Bahía Blanca, Argentina, a key petrochemical hub.

Profertil boasts an impressive annual production capacity of approximately 1.3 million metric tons of urea and 790,000 metric tons of ammonia. Its strategic location provides access to competitively priced natural gas and electricity, contributing to its status as a low-cost producer globally.

Financing and Expected Completion

Adecoagro plans to finance the acquisition through a combination of existing cash balances, a newly committed long-term credit facility, and proceeds from equity sales. The offer's acceptance by YPF's Board of Directors was anticipated in December 2025, with the overall transaction expected to conclude by December 31, 2025, subject to customary closing conditions. Upon completion, Profertil will be fully consolidated into Adecoagro's operations.