Vale Reaps $1B In Cargo Co. Stake Sale To Mitsui, Brazil Fund

Law360, New York (September 19, 2013, 4:38 PM EDT) -- Brazilian mining giant Vale SA has agreed to sell 35.9 percent of its cargo transportation subsidiary to Mitsui & Co. Ltd. and a Brazilian investment fund for 2.71 billion Brazilian reais (US$1.2 billion) and is in talks to sell an additional 26 percent stake to Brookfield Asset Management Inc., Vale said Wednesday.

If talks with Brookfield lead to a deal, Vale will hold just 38.1 percent of VLI SA, a rail-based logistics operator that transports cargo in Brazil for more than 100 companies. The Brazilian miner...
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