 |
|
| Cargill Inc/The Mosaic Company | |
| Size | $7.5 billion customized split-off and debt-for-equity exchange |
| Date | May 2011 |
| Joint bookrunners | Credit Suisse, JPMorgan, UBS |
| Adviser to Cargill | Credit Suisse |
| Adviser to MAC Foundation | UBS |
| 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