CHICAGO, ILLINOIS, U.S. — Archer Daniels Midland Company (ADM) announced on Dec. 17 that it has completed the sale of its South American fertilizer business to The Mosaic Company.
“The completion of this sale is an important part of our ongoing portfolio management,” said ADM Chairman and Chief Executive Officer Patricia A. Woertz. “By selling our blending assets in Brazil and Paraguay, we are improving our returns and creating shareholder value. At the same time, we look forward to continuing to partner with growers in that important region through our grain origination and fertilizer distribution network.”
The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay.
The Mosaic Company paid $350 million for the assets; that purchase price included $150 million in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic and will continue to supply certain fertilizer customers in Brazil and Paraguay.