The Mosaic Company (MOS) announced modifications to the definitive agreement with Vale SA, including reduced consideration for the acquisition of Vale Fertilizantes.
The changes include:
- A reduction in the purchase price consideration to $1.15 billion in cash and 34.2 million shares of Mosaic common stock.
- Vale SA will retain equity ownership in the TIPLAM port in southeast Brazil and Mosaic will continue to have the right to use the TIPLAM port facility in accordance with commercial arrangements entered into between the parties.
The transaction is expected to close on or about January 8, 2018.
“Our conviction in the long-term outlook for the business and the promise of Brazil has not changed. We look forward to completing the transaction and working to realize the exceptional opportunity this acquisition presents,” said Joc O’Rourke, president and CEO, Mosaic.
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