January 2, 2018 / 11:06 AM / in 2 months

Brazil's Vale to retain control of port, receive $1.15 bln in Mosaic deal

SAO PAULO, Jan 2 (Reuters) - Vale will conclude the sale of a fertilizer unit to the Mosaic Company with adjustments on Jan. 8, the Brazilian miner said in a securities filing on Tuesday.

Vale said it will retain control of the TIPLAM port terminal, an asset which was originally included in the deal, and will receive $1.15 billion plus 34.2 million shares in Mosaic Co, equivalent to 8.9 percent of its total share capital, when the deal closes. (Reporting by Ana Mano; editing by Jason Neely)

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