Cargill / Mosaic deal: one of the most remarkable transactions in recent history
After nearly half a decade of construction, joint bookrunners Credit Suisse, JPMorgan and UBS receive a Euromoney Deal of the Year 2011 for their Cargill Inc/The Mosaic Company trade
|Cargill Inc/The Mosaic Company
|$7.5 billion customized split-off and debt-for-equity exchange
|Credit Suisse, JPMorgan, UBS
|Adviser to Cargill
|Adviser to MAC Foundation
|return to the Global Deals of the Year index
One of the most interesting transactions in the market last year was set in motion a full four-and-a-half years ago. The death on August 1, 2006, of Margaret Cargill, the granddaughter of Cargill founder WW Cargill, set in motion a chain of events that would result, in 2011, in one of the more remarkable transactions in recent capital markets history.
Along with a personal fortune estimated by Forbes Magazine at about $1.8 billion, making her the 164th-richest American, Ms Cargill had endowed the trustees of the Margaret A Cargill Philanthropies (MAC) Foundation with her 17% shareholding in the privately owned Cargill. Although the company has never publicly disclosed its valuation, market estimates of around $55 billion valued Ms Cargill’s stake at some $9.4 billion.