Qatar Petroleum, a state-owned petroleum company of Qatar, completed the acquisition of a 25% stake in Qatar Fertiliser, a manufacturer of nitrogen-based fertilizers, from Yara International, a manufacturer of nitrates, ammonia, urea and other nitrogen-based chemicals, for $1bn. With the proceeds, Yara will initiate a share buyback program to buy back up to 8m of its shares outstanding in the open market. Including the proportional redemption of shares owned by the Norwegian state, the total buyback and redemption will amount to approximately 5% of shares outstanding.