Arab Today, arab today brazil mining giant vale boosts strategic assets sale
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Brazil mining giant Vale boosts strategic assets sale

Arab Today, arab today

Arab Today, arab today Brazil mining giant Vale boosts strategic assets sale

Rio de Janeiro - AFP

Brazil's mining giant Vale said it sold all of its ordinary shares in the logistics firm Log-In for around 233 million reais ($101 million) Thursday. A company statement said the world's top iron ore producer auctioned off its 31.3 percent stake in Log-In -- 28,737,356 ordinary shares -- at 8.11 reais per share on the Sao Paulo bourse and will thus pocket 233 million reais. Log-In provides integrated solutions for port handling and door-to-door freight forwarding. Vale also announced Thursday the sale of its 44.25 percent stake in Fosbrasil, a purified phosphoric acid producer located in Sao Paulo state, to Israel Chemicals Ltd for $52 million. It said the two transactions were consistent with its bid to shed non-strategic assets to deal with falling iron ore prices and to finance its investments in 2014. The ton of iron ore reached $180 in 2011 but it will sell between $100 and $140 in the next two years, according to experts. This year, Vale sold assets worth $5 billion, including its stake in Norway's Norsk Hydro aluminum producer for $1.6 billion in November. Last week, it also sold for $100 million its stake in the Norte Energia consortium in charge of building the Belo Monte dam in the Amazon.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil mining giant vale boosts strategic assets sale Arab Today, arab today brazil mining giant vale boosts strategic assets sale

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today brazil mining giant vale boosts strategic assets sale Arab Today, arab today brazil mining giant vale boosts strategic assets sale

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday