W. R. Grace Negotiating Sale of Stake in Fla. Mine
United Press International
NEW YORK —
W. R. Grace & Co. said Wednesday it was negotiating the sale of its 50% stake in the Four Corners phosphate mine in central Florida to its partner IMC Fertilizer Group Inc.
The terms of the proposed sale were not disclosed.
Operations at the mine were suspended in 1986 due to market conditions and are expected to resume in early 1989, Grace said.
In July, Grace announced the sale of its phosphate operations in Bartow, Fla., to a consortium of international investors for about $265 million.
