By Paul Kiernan

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.

Vale expects to receive half that amount in cash and the other via the issuance of an estimated 42.3 million shares in Mosaic, equivalent to about 11% of the latter company's capital.

Write to Paul Kiernan at paul.kiernan@wsj.com

(END) Dow Jones Newswires

December 19, 2016 06:45 ET (11:45 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.