Mitsui to Unload Brazil Fertilizer Unit

Japan’s Mitsui is heard planning to divest its Brazil-based fertilizer unit, Fertilizantes Mitsui (FertiMitsui). The unit, whose operations are based in the state of Minas Gerais, is seen drawing attention from the likes of Vale and other fertilizer specialists, according to executives with knowledge of the sale. Fertilizer assets are drawing strong interest as demand for soft commodities rises. In January, Vale spent close to $5.6bn to acquire Brazil-based fertilizer assets from Bunge, Mosaic and Yara. FertiMitsui is understood to annual generate revenues of close to BRL200m. Its main product Yoorin is used to aid dozens of kinds of crops, and draws on phosphorous, calcium and magnesium, among other elements. Mizuho Securities, alongside its new Brazil-based partner G5 Advisors, is rumored to be advising Mitsui on the sale.