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Vale sells fertiliser arm

Brazilian giant Vale (VALE5) has sold its fertiliser division to Mosaic (US:MOS), explaining it has been unable to break into the top end of the market by itself.

Vale sells fertiliser arm Vale sells fertiliser arm Vale sells fertiliser arm Vale sells fertiliser arm Vale sells fertiliser arm

More please: Mosaic will add around 50% to its phosphate production

The sale will see all operations but theCubatão phosphate and nitrogen assets go to the US-based company for US$1.25 billion in cash and 42.3 million shares of common stock in Mosaic.