Bunge's Fertiliser Divestment: It's All About Timing

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The year has started with a bang for Latin American M&A targets, with the US$28.1bn Alcon/Novartis deal followed by three Latin America targeted deals valued over US$1bn in the week of 11 January. In contrast, the week of 18 January has started with a completely different tone, with Latin America as the acquirer. Indeed, the world's largest iron ore producer and exporter, Vale, is engaging in its biggest acquisition since 2006, in a US$3.8bn bid for the Brazilian fertiliser and mining assets of the US' Bunge. Bunge's fertiliser business, Fosfertil, is Brazil's main provider of raw materials for fertiliser producers