Fortescue Metals Plans to Sell 30-40% Stake in Port, Rail by June

Reuters reported that Fortescue Metals Group expects to sell approximately 30 to 40% stake in its port and rail unit, The Pilbara Infrastructure, to pay down debts.

As quoted in the market news:

Power said the assets had attracted pension funds, sovereign wealth funds, infrastructure investors, strategic investors and industry players, but declined to say when or how many final bids it would seek.

Click here to read the full Reuters report.