24
Feb
08:47
Brazilian government sells its stake in Vale
Brazil’s Banco Nacional de Desenvolvimento Econômico e Social (BNDES) confirms it has concluded the sale of all of its equity interest in Vale, meaning it no longer has a stake in the miner.
“BNDES sold the total 188,496,276 shares in Vale, which represented 3.57% of the company's share capital,” according to a note from the state-controlled development bank monitored by Kallanish.
BNDES raised around BRL 11 billion ($2 billion) …
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