Market Chatter: Vale, Gerdau Advance in Bidding for Mubadala, Trafigura's Brazil Port

MT Newswires Live05-21 17:52

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.

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