Brookfield Asset Management Acquires a 26.5 Percent Stake in VLI from Vale (Latin America)

Source: Vale     

Alternative asset investor Brookfield Asset Management has completed the acquisition of a 26.5 percent stake in Brazil-based iron ore mining company Vale’s cargo transportation division, VLI, from Vale. The transaction, which was announced in December 2013, is valued at BRL2 billion (approximately US$971 million). Vale also sold a 20 percent stake in VLI to Japan-based general trading company Mitsui & Co. and a 15.9 percent stake to Brazil-based Fundo de Garantia do Tempo de Serviço, whose assets are managed by the Brazilian bank Caixa Econômica Federal.