Vale confirmed this Wednesday (6th) that it signed a binding contract for the sale of iron ore, manganese ore and logistics assets in the Midwest System to J&F Investimentos, owner of JBS and Eldorado Brasil.
The transaction has a company value of around US$1.2 billion.
According to the mining company, the set of assets that contributed US$ 110 million of adjusted Ebitda to Vale in 2021.
At the closing of the transaction, Vale will receive approximately US$ 150 million, in addition to transferring to the buyer the obligations related to the logistics contracts of take-or-payand the remaining debts existing in the pool of assets.
In addition, the purchaser will also assume operations with all employees of the asset pool. The completion of the transaction depends on the approval of the Administrative Council for Economic Defense (Cade), the National Waterway Transport Agency (Antaq), the National Defense Council (CDN) and other regulatory authorities.
“The sale of the Midwest System, which in 2021 produced 2.7 million tons (mt) of iron ore and 0.2 Mt of manganese ore, is in line with Vale’s strategy to simplify its portfolio. and focus on the main businesses and growth opportunities, guided by the disciplined allocation of capital”, says Vale in a material fact.
Source: CNN Brasil
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