December 20, 2019 / 10:23 PM / 2 months ago

Brazil's Vale buys back stake in MBR unit from Bradesco unit

SAO PAULO, Dec 20 (Reuters) - Brazilian iron ore miner Vale SA said on Friday that it was buying back a 36.4% stake in its MBR production and transport unit from asset manager Bradesco BBI for 3.3 billion reais ($804.45 million), more than four years after selling it.

The deal leaves Vale holding a 98.3% stake in MBR, which accounted for the production of about 59 million tonnes of iron ore last year. ($1 = 4.1022 reais) (Reporting by Christian Plumb; Editing by Sandra Maler)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below