15 March 2013 21:18 [Source: ICIS news]
HOUSTON (ICIS)--B&A Fertilizers Limited has acquired Rio Verde Minerals Development Corporation in a bid to exploit Brazil's growing fertilizer market, the two companies announced on Friday.
The resulting merged company is also looking to expand in other rising markets in South America, as well as in Africa.
While the companies revealed no financial details of their deal, it is known that Rio Verde has been involved in a potash project, holds a portfolio of phosphate projects and has strived to capitalise on Brazil's ever expanding demand for potash and phosphate fertilizers.
A booming agricultural industry within Brazil has steadily been increasing the urgent need for both crop nutrients. At present, the country imports roughly 90% of its potash and 50% of its phosphate requirements.
B&A is a subsidiary of B&A Mineracao, primarily a mining company focused on the long-term development of iron ore, potash, phosphate and copper assets in Latin America and Africa. It is a partnership between AGN Agroindustrial and BTG Pactual, Brazil’s largest independent investment bank.
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