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Gold/Mining/Energy : Medinah Mining / Cerro Dorado a place to have open discussi

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Jun 3 1:07 PM EDT

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From: Handshake™	9/8/2009 9:12:15 AM
	of 46

SAO PAULO, Sep 08, 2009 (Dow Jones Commodities News Select via Comtex) -- BSRPF \| Quote \| Chart \| News \| PowerRating -- Brazilian billionaire businessman Eike Batista is negotiating the acquisition of a stake in mining titan Vale SA (VALE) currently controlled by holding company Bradespar SA (BRAP4.BR), local newspaper Folha de Sao Paulo reported over the weekend. Currently, Bradespar, which is the equity arm of Brazilian private-sector bank Banco Bradesco SA (BBD), holds a 17.5% stake in Valepar, the controlling shareholder in Vale. According to the newspaper, which cited sources close to the negotiations, Batista has made a proposal to Bradesco Chairman Lazaro Brandao. Batista could spend some 9 billion reals ($4.9 billion) on the acquisition, according to the sources. The figure includes mandatory offers to minority shareholders. Batista is the owner of mining firm MMX Mineracao e Metalicos SA (MMXM3.BR), logistics company LLX Logistica SA (LLXL3.BR) and oil and gas company OGX (OGXP3.BR) among other assets.

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