Vale May Buy Bunge Fertilizer Assets for $3.8 Billion

Vale SA said it is in talks to buy Bunge Ltd.’s fertilizer assets in Brazil for as much as $3.8 billion as the world’s biggest producer of coffee, sugar and orange juice seeks to cut dependency on crop-nutrient imports.

The purchase would include Bunge’s 42.3 percent stake in Fertilizantes Fosfatados SA, or Fosfertil, Vale said today in a regulatory filing. Fosfertil shares surged to a 16-month high.

Rio de Janeiro-based Vale, the world’s biggest iron-ore producer and second-largest nickel miner, is seeking to increase investments in fertilizers in Brazil as the South American country aims to reach self-sufficiency in crop nutrients. The company plans to become a global fertilizer supplier, Chief Financial Officer Fabio Barbosa said Aug. 4.

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- Posted: 2010-01-15 11:22:42

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