OREANDA-NEWS. Vale signed an agreement with Israel Chemicals Ltd (ICL) to sell its 44.25% stake in Fosbrasil, a company that produces purified phosphoric acid in Cajati, located in the state of Sao Paulo, for USD 52 million.

The conclusion of this transaction is subject to customary precedent conditions and approvals, including the approval by the Conselho Administrativo de Defesa Economica (CADE), the Brazilian antitrust authority.

The transaction is consistent with Vale's strategy to prioritize investment in world-class core assets and at the same time is one additional step towards simplifying Vale's portfolio.???