Temasek Holdings Pte., Singapore’s state-owned investment company, increased its stake in Mosaic Co. to become the biggest shareholder of North America’s second-largest fertilizer producer, reported Bloomberg.
Temasek owns 17.9 million shares in Mosaic, according to a filing with the US Securities and Exchange Commission made public today. The investment company owned 108,026 Mosaic shares as of Sept. 30, according to a Nov. 14 filing. Temasek now owns 5.9% of the Plymouth, Minnesota-based company, according to data compiled by Bloomberg.
Cargill Inc., formerly the biggest Mosaic shareholder, said in January it was beginning a process to sell its 64% stake in the fertilizer producer.
The Temasek stake is valued at US$847.5 million ($1.1 billion), based on Mosaic’s closing share price yesterday in New York.
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