April 4, 2016 / 9:32 PM / 2 years ago

Brazil's Vale says it will sell CSA steel plant stake to Thyssenkrupp

SAO PAULO, April 4 (Reuters) - Brazilian miner Vale SA said on Monday it will sell its entire 26.87 percent stake in the CSA steel plant to Germany’s Thyssenkrupp for a token value, in a bid to focus on its core mining businesses with commodity prices at historic lows.

Vale’s announcement confirmed a Reuters report on Friday which said the world’s largest iron ore producer was planning to exit the steel venture. (Reporting by Tatiana Bautzer and Guillermo Parra-Bernal; Editing by Chris Reese)

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