Vale Sells $2.5 Billion Fertilizer Assets and Acquires Minority Interest in Mosaic

Cleary Gottlieb is representing Vale, which announced that it has entered into a stock purchase agreement with The Mosaic Company, to sell its fertilizer business to Mosaic, excluding its nitrogen and phosphate assets in Cubatão, Brazil.

The value of the transaction is approximately $2.5 billion, consisting of $1.25 billion in cash and approximately 42.3 million shares of common stock to be issued by Mosaic. This number of shares currently represents about 11 percent of Mosaic’s total outstanding shares of common stock on a post-issuance basis.

Vale is one of the largest mining companies in the world. The transaction is expected to close in late 2017.