August 23, 2018 / 6:10 PM / a month ago

Brazil's Usiminas seeks to sell stake in miner Musa -report

SAO PAULO, Aug 23 (Reuters) - Brazilian steelmaker Usinas Siderurgicas de Minas Gerais, known as Usiminas, has hired Banco BTG Pactual SA to sell its 70 percent stake in its mining company, Brazilian newspaper Valor Econômico reported on its website on Thursday.

Mineração Usiminas, known as Musa, could be valued at 1 billion reais, the paper said, citing people close to the matter. The Usiminas stake could be sold to partner Sumitomo Corp, which owns 30 percent of Musa. BTG and Sumitomo did not immediately respond to Reuters requests for comment.

Usiminas declined to comment. (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)

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