American Marconi Wireless News - Mosaic Announces Agreement to Sell Mosaic Potash Carlsbad Inc to International Minerals Carlsbad, LLC

International Minerals Carlsbad will assume Mosaic's potash and water business in New Mexico and related intellectual property, including the K-Mag and Dynamate brands, in the sale.

"This transaction is a win for all parties," said Mosaic Executive Vice President, Operations Karen Swager. "We are pleased that International Minerals Carlsbad will provide continuity for our Carlsbad employees at the site, and that Mosaic has taken another step to focus on core assets. Our potash production is now entirely focused on our operations in Saskatchewan, Canada which are expected to continue to generate strong returns."

"The acquisition is an exciting business opportunity, and we look forward to building upon the 100+ year legacy of the potash industry in New Mexico," said International Minerals Carlsbad CEO Sergio Saenz. Chief Commercial Offer Kelvin Feist added, "Our priority is to ensure a seamless transition of the business for employees, customers, suppliers and all stakeholders."

Lazard Freres & Co. LLC served as financial advisor to The Mosaic Company.

About The Mosaic Company

The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Through its Mosaic Biosciences platform, the company is also advancing the next generation biological solutions to help farmers improve nutrient use efficiency and crop performance sustainably. Mosaic provides a single-source supply of phosphate, potash, and biological products for the global agriculture industry. More information on the company is available at www.mosaicco.com.

About International Minerals Carlsbad, LLC

International Minerals Carlsbad, LLC is a Delaware limited liability company whose principals have over 100 years combined experience in the fertilizer industry. More information on International Minerals Carlsbad, LLC,is available at: www.internationalmineralscarlsbad.com

Contacts:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements about the expected timing of the closing of the transaction, anticipated consideration and payment schedule, assumption of asset retirement obligations and expected non-cash asset impairment Such statements are based on the current expectations and assumptions of management and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ include, but are not limited to, the ability to satisfy closing conditions on the anticipated timeline, changes in market conditions, and other risks detailed in Mosaic's filings with the Securities and Exchange Commission. Mosaic undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: The Mosaic Company

View the original press release on ACCESS Newswire

L.Harper--AMWN