January 11, 2017 / 6:11 PM / a year ago

Brazil's Funcesp says Vale stake sale not under discussion

SAO PAULO, Jan 11 (Reuters) - Fundação Cesp, Brazil’s largest private-sector pension fund, is currently not holding discussions over the partial or full sale of a 200 million-real ($62 million) stake it owns in Vale SA, the world’s largest iron ore producer.

In an interview with newspaper Valor Econômico published on Wednesday, Funcesp President Martin Glogowsky said a potential sale would be gauged if it proved advantageous for the fund. In a statement, Funcesp said the fund “has no need for such liquidity.” (Reporting by Guillermo Parra-Bernal and Bruno Federowski; Editing by Paul Simao)

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