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Vale to Sell Up to 49% of Fertilizer Unit in Second Half

Vale SA, the Brazilian miner that bought assets worth $5.8 billion for its fertilizer business last year, said it plans to sell as much as 49 percent of the unit in an initial public offering in the second half of 2011.

Vale, based in Rio de Janeiro, is in talks with financial institutions including Deutsche Bank AG as part of plans to hire advisers on a sale of between 25 and 49 percent, Mario Barbosa, head of Vale’s fertilizer unit, said yesterday in an interview.