Vale confirmed the sale of Vale Fertilizantes to the Mosaic Co. (Mosaic) is expected to close on or about January 8. The company said some final adjustments were made to the terms and conditions of the transaction. Vale will retain an equity interest in the TIPLAM port in the southeast of Brazil, formerly included in the transaction, and will receive about $1.15 billion plus $34.2 million worth of Mosaic shares, representing 8.9% of Mosaic’s total capital after issuance of the shares, upon closing.
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