Brazil: Vale sells fertilizer business for $2.5 bn

Brazilian mining giant Vale has announced the sale of the majority of its fertilizer production business to american company Mosaic, in a deal estimated at $2.5 billion USD.

The sale of Vale will grant the company a minority stake in the global fertilizer business. For Minnessota-based Mosaic, the deal is a way to break into Latin America’s largest economy, particularly its enormous agricultural sector.

As part of the deal, Mosaic would acquire all of Vale’s phosphate and potash production plants in brazil, as well as some operations in Canada and a spot in the Bayóvar mining company in Perú. The deal will require approval by Brazilian competition authorities before going ahead, with the case expected to be picked up in early 2017.

Full Content: New York Times

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