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Vale's board gives green light to Saudi fund in base metals bid

Vale's board of directors has given the go-ahead for Saudi Arabia's Public Investment Fund (PIF) to proceed with the acquisition of 10% of the miner's base metals business for $2.5 billion.

From the Brazil newsroom*
Vale's board gives green light to Saudi fund in base metals bid

The transaction is said to be at an advanced stage, sources told reporters from Valor Economico. The Saudi fund was selected from a list that initially had more than 20 potential bidders. In addition...

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