Yara International ASA has entered into a letter of intent with the other shareholders of the UK based micronutrient company Phosyn to increase its shareholding position from 35 to 100 per cent.

This planned acquisition confirms Yara's commitment to expanding its speciality plant nutrition business.

The closing date for the acquisition is expected to be during second quarter 2006 subject to approval by regulatory authorities. Both parties have agreed not to disclose the purchase price.