BNDES offloads shares in Vale

BNDES offloads shares in Vale

Capital Markets M&A Equity Brazil Latin America

Brazilian national development bank BNDES raised BRL8.1 billion ($1.53 billion) from the sale of most of its stake in local mining company Vale, according to press reports on Tuesday. BNDES sold 135 million shares in a block sale coordinated by Bank of America on the B3 stock exchange in São Paulo, according to unnamed sources cited by local and international press. BNDESPar, the development bank's investment division, is selling stakes in private companies as part of the government's plans to r

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