Trading house Mitsui & Co. said Friday that it will acquire all the shares of Caemi Mineracao e Metalurgia SA (CMM), a leading Brazilian mining firm, with an eye to selling half later to another Brazilian firm.
Mitsui, which now owns 40 percent of the CMM shares with voting rights, will soon acquire the remaining 60 percent, the Tokyo-based company said.
After the completion of the deal, Mitsui plans to sell half of its 100 percent stake in CMM to Companhia Vale do Rio Doce (CVRD), the world’s largest iron-ore mining company, Mitsui said.
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