Vale Sale of $1.5 Billion Cargo Unit to Help Shares, Itau Says
Vale SA’s cargo unit may be worth $1.5 billion and an expected stake sale may benefit shares in the world’s third-largest mining company, according to Banco Itau BBA SA.
The valuation of Vale’s stock is likely to improve when the Rio de Janeiro-based company sells a stake in VLI, or Valor da Logistica Integrada SA, Itau BBA analysts Marcos Assumpcao and Andre Pinheiro said. A divestment would also benefit Vale by funding the unit without hurting Vale’s balance sheet, they said in a research piece dated yesterday.
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