US Mosaic completes sale of Brazil Fosfertil stake to Vale

29 September 2010 22:33  [Source: ICIS news]

HOUSTON (ICIS)--US fertilizer maker Mosaic has completed the sale of its investment in Brazil's Vale Fertilizantes S.A. (Fosfertil) to a subsidiary of mining major Vale, Mosaic said on Wednesday.

Vale agreed to acquire Mosaic’s 20% minority stake in phosphate fertilizer maker Fosfertil in February for $1.03bn (€762m).

Vale subsequently acquired Bunge’s 42% stake in Fosfertil to become the majority owner.

The transaction would have no impact on Mosaic's crop nutrient blending and distribution business in Brazil, or its superphosphate production and port activities at the Paranagua complex, Mosaic said.

($1 = €0.74)

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By: Frank Zaworski
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