NFV NEWS

[April 17, 2007]

Brazilian mining giant Vale do Rio Doce share offer seen yielding R$1.93 billion

(Investnews (Brazil) - English Via Thomson Dialog NewsEdge) SO PAULO - Brazilian mining giant Vale do Rio Doce and Caixa de Previdncia dos Funcionrios do Banco do Brasil (Previ), the private pension fund of state-run Banco do Brasil banks employees, are holding a secondary offer for the common shares of steelmaker Usiminas. The sale is part of a restructuring process undergone by Usiminas since the entry of Vale in the latters goup of controlling stakeholders last year.


Vale and Previ will sell a total of 16,399,270 shares in Usiminas, to an expected turnover of R$ 1.93 billion.

Merrill Lynch, Credit Suisse and BB Banco de Investimentos banks will coordinate the offer both in Brazil and abroad.

Currently Vale owns 18.2% of Usiminas comoon shares, or 9.1% of the total capital, while Previ owns 14.9% of common and 1.2% of preferred shares (8% of the capital).

Usiminas other shareholders are Grupo Nippon (12.6%); Grupo V/C - formed by Votorantim, Camargo Corra, Jaguari, Agapanto and Paiaguas - (11.5%) and Caixa dos Empregados da Usiminas (CEU) (5%). 2007 NoticiasFinancieras - InvestNews - All rights reserved

Copyright 2007 NoticiasFinancieras

[ Back To NFVZone's Homepage ]