December 19, 2016 / 11:20 AM / in 7 months

Mosaic agrees to buy Vale fertilizer business for $2.5 bln

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SAO PAULO, Dec 19 (Reuters) - Mosaic Co, the world's top producer of concentrated phosphate, has agreed to purchase Vale SA's fertilizer unit for about $2.5 billion in cash and equity.

In a filing on Monday, Vale said it would receive $1.25 billion in cash and $1.25 billion in newly-issued Mosaic shares, a roughly 11 percent stake in the firm. Vale will retain control of nitrogen and phosphate fertilizing assets in the city of Cubatão. (Reporting by Roberto Samora and Bruno Federowski; editing by David Clarke)

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