- Published: Wednesday, 10 March 2010 17:00
- Written by E&MJ News
Vale and Bunge Ltd. announced on January 27, 2010, that Vale will acquire Bunge’s fertilizer nutrients assets in Brazil, including its phosphate mines and fertilizer production facilities and its 42.3% interest in Fertilizantes Fosfatados S.A. (Fosfertil), for $3.8 billion in cash. Of the total transaction value, $1.65 billion is attributed to Bunge’s phosphate rock and fertilizer production assets. The remaining $2.15 billion is for Bunge’s Fosfertil shares. The transaction is subject to customary closing conditions and receipt of Brazilian governmental approvals relating to mining concessions. It is expected to close in the second quarter of 2010.