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)

For more on Mosaic visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Frank Zaworski
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index