Brazil's BTG Bank, Roger Agnelli Seen Forming Mining Company

Date : 07/11/2012 @ 6:57PM
Source : Dow Jones News
Stock : Vale S.A. American Depositary Shares Each Representing One Common Share (VALE)
Quote : 8.58  0.16 (1.90%) @ 5:20PM

Brazil's BTG Bank, Roger Agnelli Seen Forming Mining Company

Vale (NYSE:VALE)
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SAO PAULO--Brazilian investment bank BTG Pactual and the former president of Brazilian mining giant Vale, Roger Agnelli, are set to announce the creation of a partnership in the mining industry, according to a source familiar with the situation.

Earlier Wednesday, Brazilian newspaper Valor Economico said BTG and Agnelli were gearing up to create a company with activities in the segments of fertilizers and iron, among others.

BTG declined to comment.

Agnelli left Vale in 2011, after almost 10 years as head of the company.

Write to Luciana Magalhaes at luciana.magalhaes@dowjones.com




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