Vale S.A. : Vale S.A. :Vale to sell stake in oil and gas concession
Rio de Janeiro, December 26, 2012 - Vale S.A. (Vale) informs that it has
signed an agreement with Statoil Brasil Óleo e Gás Ltda (Statoil) to sell its
25% participation in the concession BM-ES-22A in the Espírito Santo Basin,
Brazil, for US$ 40 million in cash. The sale also exempts Vale from committed
expenditures of approximately US$ 80 million until the end of 2013.
Theclosing of the transaction is subject to usual precedent conditions and
Our growth and sustainable value creation strategy encompasses a multilane
road, in which active portfolio asset management is a very important tool to
optimize capital allocation and focus management attention.
For further information, please contact:
Roberto Castello Branco: firstname.lastname@example.org
Viktor Moszkowicz: email@example.com
Carla Albano Miller: firstname.lastname@example.org
Andrea Gutman: email@example.com
Christian Perlingiere: firstname.lastname@example.org
Marcelo Correa: email@example.com
Marcio Loures Penna: firstname.lastname@example.org
Rafael Rondinelli: email@example.com
Samantha Pons: firstname.lastname@example.org
This press release may include statements that present Vale's expectations
about future events or results. All statements, when based upon expectations
about the future and not on historical facts, involve various risks and
uncertainties. Vale cannot guarantee that such statements will prove correct.
These risks and uncertainties include factors related to the following: (a)
the countries where we operate, especially Brazil and Canada; (b) the global
economy; (c) the capital markets; (d) the mining and metals prices and their
dependence on global industrial production, which is cyclical by nature; and
(e) global competition in the markets in which Vale operates. To obtain
further information on factors that may lead to results different from those
forecast by Vale, please consult the reports Vale files with the U.S.
Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores
Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The
Stock Exchange of Hong Kong Limited, and in particular the factors discussed
under "Forward-Looking Statements" and "Risk Factors" in Vale's annual report
on Form 20-F.
Vale to sell stake in oil and gas concession
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The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Vale S.A. via Thomson Reuters ONE
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