Rio de Janeiro-based mining company Vale S.A. will buy the fertilizer assets of Bunge Limited, an agricultural business, for $3.8 billion in cash. Vale will acquire Bunge Participacoes e Investimentos S.A., which owns phosphate mines and production facilities in Brazil, as well as Bunge’s 42.3 percent stake in Brazil’s largest fertilizer producer, Fertilizantes Fosfatados S.A.
Vale, the world’s largest producer and exporter of iron ore, will remain Bunge’s phosphate supplier through 2012, under the terms of a separate agreement. White Plains-based Bunge supplies fertilizer and food products, and processes grains and oils. The company has said it plans to pay down its debt and expand its agribusiness activities with proceeds from the sale.
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