Deals
Vale Buys Brazilian Palm Oil Producer, Aims to Make Biodiesel
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Vale SA, the world’s biggest iron-ore producer, agreed to buy palm oil producer Biopalma da Amazonia SA Reflorestamento Industria & Comercio for $173.5 million as it seeks to run more of its Brazil operations on biodiesel.
Biopalma will start producing the oil this year and will be generating 500,000 tons of it in 2019, Vale, based in Rio de Janeiro, said in an e-mailed statement yesterday.