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Mosaic to Buy Vale''s Fertilizer Business for $2.5 Billion — Update

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RIO DE JANEIRO -- Brazilian mining firm Vale SA said Monday it will sell most of its fertilizer business to U.S.- based The Mosaic Company for around $2.5 billion, the latest step in its effort to pay down debt amid the commodity downturn.

Excluded from the transaction are nitrogen and phosphate assets in Cubatão, Brazil, which generated cash flow of $108 million in 2015, Vale said.

The biggest setback came in 2013, when Vale indefinitely suspended a $5.92 billion...