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Vale completes $971 mln sale of cargo unit stake to Brookfield

Brazilian miner Vale SA has completed the sale of a 26.5 percent stake in its cargo transportation division VLI SA to Canadian alternative assets investor Brookfield Asset Management. The transaction, which was first announced in late 2013, is valued at 2 billion reais ($971 million). Vale also sold a 20 percent interest in VLI to Japan’s Mitsui & Co Ltd and a 15.9 percent interest to Brazil’s Fundo de a do Tempo de Serviço-FGTS. Vale will retain 37.6 percent ownership in the business, which handles cargo operations not directly related to the movement of Vale’s own output of iron ore and other minerals.

PRESS RELEASE

Vale concludes sale of stakes in VLI to Brookfield

August 20, 2014

​​Vale has concluded the transaction announced on December 23, 2013, transferring 26.5% of the total capital of VLI to investment funds managed by Brookfield Asset Management , for R$ 2 billion. As a result of the completion of this transaction, Vale now holds 37.6% of VLI’s total share capital.​

In April, Vale completed the transactions with Mitsui and FI-FGTS, whereby 20% of the total capital of VLI were transferred to Mitsui and 15.9% to the Investment Fund of the Fundo de a do Tempo de Serviço – FGTS (FI-FGTS).​​

Source: Vale SA

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