Jan. 3, 2018
The Mosaic Company announced modifications to the definitive agreement with Vale S.A., including reduced consideration for the acquisition of Vale Fertilizantes.
The changes include:
*A reduction in the purchase price consideration to $1.15 billion in cash and 34.2 million shares of The Mosaic Company (Mosaic) common stock.
*Vale S.A. will retain equity ownership in the TIPLAM port and Mosaic will continue to have the right to use the TIPLAM port facility in accordance with commercial arrangements entered into between the parties.
"Our conviction in the long-term outlook for the business and the promise of Brazil has not changed," said Joc O'Rourke, President and CEO. "We look forward to completing the transaction and working to realize the exceptional opportunity this acquisition presents."
The transaction is expected to close on or about January 8, 2018.
About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry.