(Reuters) — Potash Corporation of Saskatchewan Inc., the world’s biggest fertilizer company by market capitalization, said it would buy a 9.5 percent stake in Brazil’s Fertilizantes Heringer SA from its controlling shareholders for $55.7 million.
The deal, expected to close in the second half of this year, will pave the way for a long-term potash supply agreement, allowing PotashCorp to become Heringer’s principal supplier over time.
Heringer, one of the largest fertilizer companies in Brazil, delivered five million tonnes of fertilizers, including about one million tonnes of potash in 2013, with net revenue of about $2.5 billion.
