Vale Doesn’t Want Majority in Brazil Steel Venture, Reuters Says

Vale SA (VALE5) isn’t interested in acquiring a majority stake in a steel plant it runs as a joint venture with ThyssenKrupp AG (TKA) in Brazil, Reuters reported, citing a Vale spokeswoman.

Vale, which currently owns 27 percent of the plant, may raise its stake, Reuters cited the spokeswoman as saying. WirtschaftsWoche, a German weekly business magazine, reported on June 2 that Vale is interested in buying out ThyssenKrupp’s stake.

To contact the reporter on this story: Julie Cruz in Frankfurt at jcruz6@bloomberg.net

To contact the editor responsible for this story: Celeste Perri in Amsterdam at cperri@bloomberg.net

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