Sale of BNDES Portfolio Investments to Start with Vale and Petrobras Shares

Shares in the mining and oil companies accounted for 47 percent of the total portfolio held by BNDES in late March.

RIO DE JANEIRO, BRAZIL - The BNDES (National Bank for Economic and Social Development) will start selling the Vale and Petrobras' shares held in its portfolio, according to sources close to the institution. The list of share holdings the bank wishes to monetize also includes Suzano, Klabin, and perhaps JBS. But the first to be sold will be the giant mining company and the state-owned oil company. The market has already been notified, given the many surveys conducted.

Sales by BNDES are expected to begin today, August 4th, carried out directly on the stock exchange, where BNDES holds a block . . .

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