Vale to sell between 25% and 49% of Vale Fertilizantes in IPO

摘要

VALE'S DIRECTOR for Fertilizer Business, Mario Barbosa said this week the Brazilian mining major has held talks with some banks, including Deutsche Bank, to assist it in structuring an initial public offering (IPO) to help finance its US$12 billion planned investment in the fertilizer sector. Vale first revealed its intentions to launch an IPO last September (FW Online, September 3, 2010). According to Barbosa, Vale may look to raise at least part of the US$12 billion in the public offering, which is now scheduled for the second half of this year. The company originally had planned to launch the offering in the first half of 2011.