June 12, 2018 / 5:08 PM / a year ago

Brazil pension fund Petros expects to sell part of Vale stake in 2018 -CEO

RIO DE JANEIRO, June 12 (Reuters) - Brazilian pension fund Petros, which manages pensions for employees of state-controlled oil company Petroleo Brasileiro SA, expects this year to sell part of its stake in iron ore miner Vale SA, Petros Chief Executive Officer Walter Mendes said on Tuesday.

Mendes, on the sidelines of a conference in Rio de Janeiro, said the stake sale is being discussed with other shareholders, but the pension fund will not “rush” to sell nor divest from its full stake in the miner this year. (Reporting by Carolina Mandl; Writing by Tatiana Bautzer; Editing by David Gregorio)

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