Fortescue says still pursuing partial sale of rail, port assets
SYDNEY (Reuters) - Australia's Fortescue Metals Group Ltd (FMG.AX) is still pursuing a sale of a minority stake in its TPI rail and port infrastructure unit after announcing a $500 million investment by Taiwan's Formosa Plastics Group (1301.TW).
"That process is continuing... We have a number of people that are interested and we are progressing that process," Fortescue Chief Executive Nev Power told reporters. "We are reviewing each of these separately."
Fortescue has been trying to sell a minority stake in TPI for around $3 billion to help pay down debt, hoping to seal a deal by the end of September, but only if it gets a high enough price.
(Reporting by James Regan; Editing by Ed Davies)
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