Vale sells 8 percent of logistics company VLI to BNDES

Thursday, 10 December 2020 19:11:18 (GMT+3)   |   Sao Paulo
       

Brazilian miner and iron ore producer Vale sold 8 percent of logistics company VLI, which operates railways including several that transport iron ore, to Brazilian development bank BNDES, the company said.

The state-run bank will pay BRL 1.22 billion ($238.6 million) for an 8 percent stake in the VLI business. The transaction should be completed by Q1 2021.

As a result of the transaction, Vale will now own 29.6 percent of VLI’s total stocks.

 

 


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