September 11, 2018 / 7:54 PM / in 2 months

Brazilian pension fund Petros says Bradespar, Litel and Eletron in talks to settle Vale dispute

FLORIANOPOLIS, Brazil, Sept 11 (Reuters) - Brazilian holding company Bradespar SA, one of the largest shareholders in miner Vale SA, and Litel Participações SA, a holding company owned by pension funds, are trying to settle a dispute over Vale shares with Elétron SA, a holding company controlled by banker Daniel Dantas, a pension fund executive said on Tuesday.

Daniel Lima, investments director at pension fund Petros, confirmed a report by newspaper Valor Economico saying the companies are trying to reach a settlement, but declined to elaborate. Valor Economico said Bradespar and Litel could agree to pay around 2.5 billion reais ($600 million) to Eletron, half the 5 billion reais awarded by a Rio de Janeiro court.

$1 = 4.16 reais Reporting by Carolina Mandl; Editing by Dan Grebler

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