Vale to Sell $4.9 Billion Aluminum Venture to Norsk, Nikkei Says -Shanghai Metals Market

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Vale to Sell $4.9 Billion Aluminum Venture to Norsk, Nikkei Says

Industry News 10:09:14AM Jun 17, 2010 Source:SMM

June 17 (Bloomberg) -- Vale SA will sell its $4.9 billion holdings in aluminum production ventures with a Japanese partner to Norsk Hydro ASA, the Nikkei newspaper reported. Vale will obtain a 22 percent stake in Norsk Hydro as part of the transaction. Vale's venture partner, Nippon Amazon Aluminium Co., agreed to the decision, according to the report, which didn't cite anyone.
 

Key Words:  Aluminum Al  Vale 

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Vale to Sell $4.9 Billion Aluminum Venture to Norsk, Nikkei Says

Industry News 10:09:14AM Jun 17, 2010 Source:SMM

June 17 (Bloomberg) -- Vale SA will sell its $4.9 billion holdings in aluminum production ventures with a Japanese partner to Norsk Hydro ASA, the Nikkei newspaper reported. Vale will obtain a 22 percent stake in Norsk Hydro as part of the transaction. Vale's venture partner, Nippon Amazon Aluminium Co., agreed to the decision, according to the report, which didn't cite anyone.
 

Key Words:  Aluminum Al  Vale