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MMX mulling sale of shares, assets

Keywords: Tags  MMC Mineracao e Metalicos, iron ore, Eike Batista, Glencore Xstrata, Juan Weik

SÃO PAULO — Brazil’s MMX Mineracao e Metalicos SA has been evaluating business opportunities that include the possible sale of shares and assets, the iron ore miner said this week.

The shares that could be sold are held by MMX’s controlling shareholder, Eike Batista, the company said in a filing with São Paulo stock exchange Bovespa.

Interested parties include “Brazilian and foreign investors,” according to the filing. “Accordingly, the company has engaged financial advisers and has begun a competitive and organized process focused on generating value for all its shareholders,” MMX said.

Last week, a Brazilian weekly magazine said that MMX was in negotiations with Glencore Xstrata Plc about the sale of its 50-million-tonne-per-year iron ore Sudeste Superport in Rio de Janeiro state.

A version of this article was first published by AMM sister publication Steel First.

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