Mosaic buys ADM's Brazil, Paraguay fertilizer distribution business for $350M

|About: The Mosaic Company (MOS)|By:, SA News Editor

Mosaic (MOS +0.9%) agrees to acquire Archer Daniels Midland's (ADM -1.5%) fertilizer distribution business in Brazil and Paraguay for $350M.

MOS says the acquisition would increase its annual distribution in the region to ~6M metric tons of crop nutrients from ~4M.

The parties also negotiate terms of five-year fertilizer supply agreements providing for MOS to supply ADM's fertilizer needs in Brazil and Paraguay.