07:27 AM EST, 01/02/2025 (MT Newswires) -- Mosaic (MOS) said Thursday it has completed the sale of its 25% stake in Ma'aden Wa'ad Al Shamal Phosphate, or MWSPC, to joint venture partner Ma'aden in exchange for around 111 million Ma'aden shares.

Mosaic said the Ma'aden shares it received are valued at around $1.5 billion on Dec. 24, when the transaction closed, marking Mosaic's exit from the MWSPC joint venture with Ma'aden and Saudi Basic Industries.

Mosaic said it expects to report a pre-tax gain of $500 million in Q4 2024 based on the share price at closing.