Mosaic Completes $1.26 Billion Secondary Offering and $315 Million Concurrent Share Repurchase
11.10.21
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Simpson Thacher recently represented The Mosaic Company (“Mosaic”) in connection with a secondary offering of common stock of Mosaic by Vale S.A. and affiliates. The offering of 34,176,574 shares resulted in approximately $1.26 billion in gross proceeds to Vale. Concurrently, Mosaic effected a $314.8 million share repurchase out of the shares sold in the offering.
Mosaic is the world’s leading producer and marketer of concentrated phosphate and potash crop nutrients, and one of the largest producers and marketers of phosphate-based animal feed ingredients in North America and Brazil, serving customers in approximately 40 countries.
The Simpson Thacher team included Joe Kaufman, Ben Massey and Saqeef Ahmad (Capital Markets); Andrew Purcell and Jasmine Hay (Tax); Genevieve Dorment and Corina McIntyre (IP); and Adeeb Fadil (Environmental). Fabiano Maia provided valuable assistance.