December 15, 2016 / 10:08 PM / 2 years ago

Brazil's Vale completes sale of Paragominas stake to Norsk Hydro

SAO PAULO, Dec 15 (Reuters) - Brazil’s Vale SA has concluded the sale of a 13.6 percent stake in mining company Mineração Paragominas to Norway’s Norsk Hydro ASA for $113 million, the company said in a securities filing.

The sale of the remaining stake Vale had in the company is related to the decision to sell aluminum assets taken five years ago, Vale said. The transaction is part of the companys strategy of selling assets to reduce debt, the filing said. (Reporting by Tatiana Bautzer; Editing by Matthew Lewis)

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