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MOSAIC TO SELL SOME OF ITS SOUTH AMERICAN OPERATIONS
Feb. 11, 2010
Source: The Mosaic Co. news release
The Mosaic Company (NYSE: MOS) announced today it has granted an option to purchase its minority stake in Fertilizantes Fosfatados S.A. ("Fosfertil") and Fertifos Administracao e Participacao S.A. ("Fertifos") to a subsidiary of Vale S.A.
Mosaic also granted an option to purchase its Cubatao operations in Brazil to Vale.
The purchase price for Mosaic's approximate 20 percent minority stake and the Cubatao operations is in excess of $1 billion.
The sale is subject to Vale closing its previously announced purchase of Bunge Group's fertilizer business in Brazil, including its interest in Fosfertil. The sale of the Cubatao operations is expected to follow the closing of the sale of Mosaic's stake in Fosfertil and Fertifos.
Both transactions are subject to a number of additional conditions.
This transaction will have no impact in Mosaic's significant fertilizer blending and distribution business in the country and its SSP production and port activities in the Paranagua complex.
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