Cargill announces major divestiture
2011-01-20 16:24:55
CARGILL announced on January 18, that it plans to divest its 64% stake in Mosaic, a large fertilizer producer, which opens the door for a possible take over bid of Mosiac. Cargill will get $24 billion from the divesture of the 286 million Mosaic shares to its own shareholders and debt holders. In its last fiscal year that ended on May 31, 2010 Cargill had $107,9 billion in revenue and $2,6 billion in earnings. Just before the end of last year Cargill announced plans to spend in excess of $60 million to build a new animal feed mill in Kirovohrad Oblast.