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Business
Vale Buys Majority Stake In Fosfertil
by Melody Voith
February 22, 2010
| A version of this story appeared in
Volume 88, Issue 8
Brazilian mining firm Vale plans to spend more than $5 billion to buy nearly 80% of Fosfertil, the largest supplier of raw materials for phosphate- and nitrogen-based fertilizers in Brazil. Fosfertil owns mines, processing plants, and transportation terminals and pipelines. The acquisition will be done in pieces. Vale has an option to purchase a 20% share in Fosfertil from U.S. fertilizer maker Mosaic for more than $1 billion, and it plans to buy another 42% from Bunge for $3.8 billion. In addition, the company will buy smaller stakes from other firms.
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