Mosaic in Talks to Buy Mexico's Fertinal

Mosaic is in talks to acquire Mexican fertilizer company Grupo Fertinal for up to $1 billion, a report says.
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PLYMOUTH, Minn. (

TheStreet

) --

Mosaic

(MOS) - Get Report

is in talks to acquire Mexican fertilizer company

Grupo Fertinal

for up to $1 billion, the

Wall Street Journal

reports.

A Mosaic acquisition of Grupo Fertinal, one of Latin America's leading fertilizer makers, would the company its first footprint in Mexico, the

Journal

notes.

The companies have been in talks for about six months, people familiar with the matter told the newspaper.

An acquisition of Fertinal would expand Mosaic's access to the phosphate rock it needs for making fertilizer in North America.

Mosaic produces about 10% of the world's potash fertilizer and controls 13% of the world's capacity to make phosphate fertilizer, according to the

Journal

.

-- Written by Joseph Woelfel in New York.

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