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Vale to sell its fertilizer arm to The Mosaic Company

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Vale to sell its fertilizer arm to The Mosaic Company

 

Vale confirmed on Monday (Jan.2)  that the sale of Vale Fertilizantes to The Mosaic Company (“Mosaic”) is expected to close on or about January 8, 2018.

Some final adjustments were made to the terms and conditions of the transaction.

Vale will retain an equity interest in the TIPLAM port in the southeast of Brazil, formerly included in the transaction, and will receive about US$ 1.150 billion plus 34.2 million shares of Mosaic, representing 8.9 per cent of Mosaic’s total capital after issuance of the shares, upon closing.

The closing of the transaction is one more step towards deleveraging and simplification of Vale’s asset portfolio.

Overview

Vale is one of the largest metals and mining company in the world. Vale has a market capitalization of around US$ 53 billion, with approximately 247,000 shareholders from all continents. Vale is the world’s largest producer of iron ore and iron ore pellets and the world’s largest producer of nickel. We also produce manganese ore, ferroalloys, metallurgical and thermal coal, copper, platinum group metals by-products (PGMs), gold, silver and cobalt.

 

MOSAIC

The Mosaic Company is a combined producer and marketer of concentrated phosphate and potash. Its customer base includes wholesalers, retail dealers and individual growers in more than 40 countries. Headquartered in Plymouth, Minnesota, Mosaic employs approximately 9,000 people in eight countries.

Launched October 25, 2004, Mosaic was formed by a merger between IMC Global, a fertilizer company formed in 1909, and Cargill’s crop nutrition division

 

Read article on TIPLAN port (Brazil Monitor, March 15, 2017)