Brazil’s BNDES sells £1bn stake in miner Vale

The Daily Telegraph - Business - - Business -

Brazil’s state-con­trolled de­vel­op­ment bank BNDES raised 8.1 bil­lion reais (£1.17bn) by sell­ing 135 mil­lion shares in miner Vale in an auc­tion yes­ter­day. Af­ter this sale, BNDES has re­duced its stake in the com­pany from 6.3pc to 3.7pc. Last week the bank also agreed to sell its stake in power com­pany AES Ti­ete En­er­gia.

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