BNDES sells rest of stake in Vale

BNDES sells rest of stake in Vale

Equity Capital Markets Brazil

Brazil's national development bank BNDES has sold the rest of its stake in the local mining company Vale, offloading 189 million shares for roughly BRL11 billion ($2.02 billion), according to press reports. BNDESPar, the development bank's equity investments division, got rid of its remaining 3.6% stake in Vale as part of its plans to sell around BRL90 billion worth of equity holdings by the end of 2022 and reduce its role in the financial markets. It sold 40 million shares in Vale for BRL2.54 b

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