Vale has announced that the sale of Vale Fertilizantes to the Mosaic Co. is expected to close on or around 8 January 2018.
Some final adjustments were made to the terms and conditions of the transaction. Vale claims that it will retain an equity interest in the TIPLAM port in southeastern Brazil, formerly included in the transaction, and will receive approximately US$1.15 billion plus 34.2 million shares of Mosaic, representing 8.9% of Mosaic's total capital after issuance of the shares, upon closing.
Vale claims that the closing of the transaction is a further step towards deleveraging and simplification of its asset portfolio.