|
|
Article: AUSTRALIA'S BHP TO SELL US$343 MLN STAKE IN CVRD.
- Article from:
- AsiaPulse News
- Article date:
- December 30, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MELBOURNE, Dec 30 Asia Pulse - BHP Billiton Ltd (ASX:BHP) is selling its stake in the world's largest iron ore producer, Companhia Vale do Rio Doce (CVRD), for $US343 million ($A613 million).
The indirect stake, held through BHP Billiton's majority interest in Sweet River Investments Ltd, will be sold to Brazil's second largest steelmaker Companhia Siderurgica Nacional (CSN).
The stake was acquired by Billiton plc in 2000 before its merger with Australia's BHP Ltd last year. The merged BHP Billiton is now the third biggest iron ore exporter in the world behind CVRD and Rio Tinto.
BHP Billiton holds an 66.97 per cent interest in Sweet River ...