Brazil's state-controlled development bank BNDES raised 8.1 billion reais ($1.53 billion) by selling 135 million shares in miner Vale SA in an auction on Tuesday morning, a source familiar with the matter said.
A sign at the main entrance of the Brazilian National Development Bank building is seen in Rio de Janeiro, Brazil January 8, 2019. REUTERS/Sergio Moraes
RIO - Brazil’s state-controlled development bank BNDES raised 8.1 billion reais by selling 135 million shares in miner Vale SA in an auction on Tuesday morning, a source familiar with the matter said.The move by BNDES comes as the state-controlled lender has been divesting shares in companies recently as part of far-right President Jair Bolsonaro’s strategy to reduce government stakes in companies.
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