Vale raises $150M by selling stakes in logistics, chemicals companies

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE +3.1%) has sold its 31.3% stake in Brazilian logistics firm Logistica Intermodal for $98M through an auction on the Sao Paulo exchange, and its 44.25% stake is phosphoric acid producer Fosbrazil to Israel Chemicals for $52M.

The asset sales are part of the mining giant's efforts to shed non-core assets, and to focus on its core iron ore, nickel, coal, copper, and fertilizer businesses. Vale has sold $6B worth of non-core assets in 2013.

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