Vale SA has agreed to acquire the Brazilian fertiliser assets of Bunge Ltd in a $3,800m. deal, which will see the mining giant gain a 42.3% stake in leading Brazilian fertiliser company, Fertilizantes Fosfatados SA (Fosfertil).
Following regulatory approval Vale will control 100% of outstanding shares in the US group’s subsidiary, Bunge Participacoes e Investmentos SA (BPI).
“This transaction is instrumental to the consolidation of Vale’s strategy on focusing on Brazil as the main market for its production...