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Financials

Brazil's Vale buys back stake in MBR unit from Bradesco unit

SAO PAULO, Dec 20 (Reuters) - Brazilian iron ore miner Vale SA said on Friday that it was buying back a 36.4% stake in its MBR production and transport unit from asset manager Bradesco BBI for 3.3 billion reais ($804.45 million), more than four years after selling it.

The deal leaves Vale holding a 98.3% stake in MBR, which accounted for the production of about 59 million tonnes of iron ore last year. ($1 = 4.1022 reais) (Reporting by Christian Plumb; Editing by Sandra Maler)

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