M&A deal of the quarter century: CVRD-Inco

M&A deal of the quarter century: CVRD-Inco


$18.68bn acquisition, 2006 Vale’s $18.68 billion acquisition of Canada’s Inco in 2006 was, until 2013, the largest M&A deal involving a Latin American entity; it was also the first solid example of a regional buyer venturing outside the region. The transaction instantly made Vale one of the top mining companies in the world. “Up to that point we had isolated efforts from Brazilian companies to go abroad, on a very small scale,” says Luciano Siani, chief financial officer of Vale. “The Vale-Inco deal sparked interest from Brazilian companies of all sectors, who started to realize that it was possible to go abroad in a bold way.” Financing the acquisition with debt took courage at that ti

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