Brazil's Vale could sell stake in fertilizer unit in 2016 -paper

miércoles 6 de abril de 2016 08:15 GYT

BRASILIA, April 6 (Reuters) - Brazilian miner Vale SA could sell a minority stake in its fertilizer unit by the end of the year, newspaper Valor said on Wednesday, citing unnamed market sources.

Norwegian fertilizer maker Yara International ASA is tipped as a potential buyer in a deal that could yield Vale an expected $1.2 billion, Valor reported.

Representatives of Vale and Yara did not immediately respond to requests for comments.

Vale is seeking to sell $10 billion in assets in the next 18 months after taking the biggest loss in decades in the fourth quarter of 2015 but analysts have told Reuters a fire sale could destroy equity value.

Meanwhile, Yara plans to raise investments to become more competitive and grow its business. (Reporting by Silvio Cascione; Editing by Bill Trott)