W. R. Grace to Sell Florida Fertilizer Plant
W. R. Grace & Co. has agreed to sell its Bartow, Fla.-based phosphate fertilizer operations to an international investor group for about $263 million cash.
The price may be reduced by debt assumed by the buying group.
The consortium is led by Judas Azuelos, who holds real estate and food service properties in France and includes Tendler Beretz Associates Ltd., an investment banking firm, and a Swiss investment group controlled by Tito Tettamanti.
Grace, the diversified chemical, energy and restaurant concern, said completion of the deal is subject to governmental approvals, third-party consents and the completion of financing.
The company said except for a multiplant ammonia complex in Trinidad, which it operates with the government of Trinidad and Tobago.
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