Vale is planning to sell about 49% of its fertilizer business in an initial public offering in the second half of this year, Bloomberg reports. The Brazilian miner is in talks with financial institutions including Deutsche Bank, as part of plans to appoint advisors on a sale of between 25% and 49%. In 2010, Vale acquired assets worth $5.8 billion for its fertilizer business. The company is “unlikely” to buy more assets before the IPO, said Mario Barbosa, head of Vale’s fertilizer unit.
Click here for the story from Bloomberg.