RIO DE JANEIRO, BRAZIL – Brazilian development bank BNDES has closed out its stake in mining giant Vale SA, selling 188.5 million shares and raising around R$11 billion (US$2 billion), the bank confirmed in a statement on Tuesday, February 23rd.
The sale of the 3.6% stake in the miner, carried out by the bank’s equity arm BNDESPar, comes as BNDES seeks to exit its position in various companies as part of a broader government divestment plan. In November, a similar sale of Vale stock raised 2.54 billion reais.
“The bank took advantage of a favorable moment,” one source with knowledge of the matter told Reuters earlier. A second source said the sales took place between November and last week.
Live Company IntelligenceVale SA ADR — the full investor dossierInside: live share price, market cap, three-year financials, valuation, ESG and peer benchmarks — plus the latest Rio Times coverage.
What Vale does. Vale S.A., together with its subsidiaries, produces iron ore and nickel in Brazil, Asia, the Middle East, North Africa, Europe, the Americas, and Oceania. The company operates in two segments, Iron Ore Solutions and Vale Base Metals. It extracts, produces, and distributes iron ore, iron ore pellets, briquettes, nickel, copper, other ferrous…
