Vale sells stake in Indonesian nickel producer

Vale sells stake in Indonesian nickel producer

Equity M&A Brazil Latin America

Brazilian mining company Vale said Friday that its Canadian subsidiary and Japan's Sumitomo Metal Mining (SMM) sold 20% of nickel producer PT Vale Indonesia to Indonesia's state-owns aluminum smelting company PT Indonesia Asahan Aluminium (Inalum). Vale Canada Limited (VCL) sold a 14.9% stake and SMM offloaded 5.1% to Inalum, according to a securities filing. Vale said it will receive $290 million from the sale, which it expects to close by the end of the year. The Brazilian miner will retain a

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