JBSAY - Vale nears $215M mine sale to Brazil's J&F - Reuters

Brazilian holding company J&F Investimentos is in advanced talks to buy Vale's (NYSE:VALE) manganese and iron mines in Mato Grosso do Sul state for ~1B reais ($215M), Reuters reported Wednesday. Newspaper Valor Economico reported Tuesday that J&F, parent company of meatpacker JBS (OTCQX:JBSAY), and pulpmaker Eldorado Brasil, had agreed to acquire the assets for 1B reais including debt. Vale said last week it was negotiating the sale of the companies that compose its Center-West system as it looks to focus on core businesses, without revealing the potential buyer. "Vale has a great opportunity to be the primary ore and mineral supplier for most of the west," Sandis Weil writes in a bullish analysis posted on Seeking Alpha.

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Vale nears $215M mine sale to Brazil's J&F - Reuters