Vale Fertilizer Sale Imminent as Iron Miner Fights Debt
- Sale of potash and phosphate assets said to close coming weeks
- Business could fetch as much as $3 billion, according to UBS
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Vale SA is nearing an agreement to sell its entire fertilizer business as the world’s second-most indebted miner accelerates efforts to reduce debt and retain its credit ratings, people familiar with the talks said.
A deal for the potash and phosphate assets probably will be reached in the coming weeks, two of the people said, asking not to be identified as negotiations are private. The fertilizer business -- which includes mines in Brazil and Peru and projects in Canada and Mozambique -- may fetch about $3 billion, one person with knowledge said.