Vale says to transfer control of logistic unit
RIO DE JANEIRO, Sept 18 (Reuters) - Brazilian iron ore company Vale SA said on Wednesday that it signed an accord to sell a 26 percent stake in its VLI SA logistics operation to a consortium led by Brookfield Brasil but that negotiations on terms were still underway.
The company also said it signed an accord to transfer a 20 percent stake in VLI to Japanese firm Mitsui & Co Ltd for 1.51 billion reais ($667 million).
Vale retains control of VLI with 64.1 percent of its total capital, it said in a statement; but if the Brookfield deal went through, Vale's stake in the unit would be reduced to less than 40 percent.
(Writing by Reese Ewing; Editing by Gerald E. McCormick)