Vale (VALE) and Gerdau (GGB) are among the bidders advancing to the second round of a sale process for Porto Sudeste, a Brazilian iron ore export terminal owned by Mubadala Capital and Trafigura, Bloomberg reported late Wednesday, citing people familiar with the matter.
Infrastructure investor I Squared Capital and logistics company M Resources also advanced in the process for the asset, which could be valued at about $5 billion, according to the report.
Vale and Gerdau did not immediately respond to MT Newswires' request for comment.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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