Vale S.A. Strategic Moves to Watch Out for

Vale S.A, the parent company of PT Vale Indonesia Tbk. (INCO), is planning to divest its shares, particularly in its base metal mining units, which could potentially impact the acquisition deal between INCO and MIND ID.

Rinaldi Azka

27 Jun 2023 - 18.47
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Vale S.A. Strategic Moves to Watch Out for

PT Vale Indonesia Tbk Logo /Bisnis

Bisnis, JAKARTA - Vale S.A, the parent company of PT Vale Indonesia Tbk. (INCO), is planning to divest its shares, particularly in its base metal mining units, which could potentially impact the acquisition deal between INCO and MIND ID. 

According to Bloomberg on Monday (26/6/2023), the Saudi Arabian Public Investment Fund (PIF) has made a $ 2.5 billion offer, equivalent to IDR 37.4 trillion, to acquire a 10 percent stake in Vale's base metal unit. Alongside PIF, Mitsui & Co. and the Qatar Investment Authority have also submitted their offers. 

PIF is currently engaged in further discussions with the Brazilian mining company to secure a deal for approximately a 10 percent stake in its base metals unit. 

Sources suggest that it may take several weeks to finalize a formal agreement, with PIF potentially outbidding other contenders such as Mitsui & Co. and the Qatar Investment Authority.

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