Vale Sells Giant Ships to China-Led Group for $269 Million

  • ICBC-led group buys 3 vessels with 400,000-ton capacity
  • Vale looking to raise $5 billion from non-core assets

Vale SA agreed to sell three bulk carriers for $269 million as the world’s biggest iron-ore miner seeks to strengthen its balance sheet after commodity prices tumbled.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.