The Mosaic Company has completed the sale of Streamsong Resort, and approximately 7,000 acres of land on which it sits to Lone Windmill LLC, a subsidiary of Kemper Sports Management LLC. Chicago-based KemperSports has managed the golf business at Streamsong since the resort opened in 2012, and it has managed the entire resort for the past two years as part of its KemperDestinations division. The purchase price for the resort and real estate was $160 million. Mosaic intends to use approximately a quarter of the proceeds of the sale to provide long-term funding for the company’s global community investment activities. The remainder of the proceeds are available for general corporate purposes and are subject to Mosaic’s usual capital allocation strategy, including potential shareholder returns.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on MOS:
- Mosaic downgraded to Underperform from Neutral at Exane BNP Paribas
- Mosaic downgraded to Underperform from Outperform at Credit Suisse
- Early notable gainers among liquid option names on January 6th
- Mosaic reports October/November potash revenue $780M vs. $529M y/y
- Mosaic announces temporary curtailment of Canada potash mine