Vale mulls Brazil copper, fertilizer acquisitions

02 July 2008 10:38  [Source: ICIS news]

LONDON (ICIS news)--Vale is considering the acquisition of the copper smelting and fertilizer businesses of Brazil’s Paranapanema, the world’s largest iron ore producer said late on Tuesday.

 

Vale denied it was negotiating a deal after speculation in the Brazilian media, but said it was analysing the possibility of a takeover.

 

“As part of Vale’s normal course of business of evaluating investment opportunities, Vale is analysing the possibility of acquiring Caraiba Metais and Cibrafertil,” said Vale in a statement.

 

Vale said Paranapanema had publicly announced a restructuring process.

 

Cibrafertil, Paranapanema’s fertilizer unit reported sales of reais (R) 75m ($47m) in 2007.

 

($1 = R1.60)

By: Mark Watts
+44 20 8652 3214

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