Cargill to Divest Mosaic Stake
US-based Cargill, the privately owned global food, agricultural, financial and industrial products and services group, is to divest its 64% stake in the Mosaic Company, which is one of the world’s leading providers of crop nutrients and feed ingredients for agriculture industry. According to some analysts, the deal could net Cargill as much as $24b over the next two years.
The deal will help Cargill to maintain its status as a private company, sharpen its focus and enhance its credit profile. Founded in 1865, Cargill employs 131,000 people in 66 countries.
News of the deal has prompted speculation that Cargill may launch a takeover of Tate & Lyle, the UK-based global sweeteners and food ingredients group. As a consequence, Tate & Lyle’s shares have risen, valuing the group at £2.7b ($4.3b)
