Vale Sells $1.8 Billion Stake in Aluminum Maker Norsk Hydro

Vale SA, the world’s biggest iron ore exporter, sold its stake in aluminum-maker Norsk Hydro ASA for $1.8 billion, about half the holding’s value when the Brazilian company acquired it in 2011.

Vale sold 407.1 million shares in Oslo-based Hydro for 25 kroner each, the Rio de Janeiro-based company said today in a statement. If an over-allotment option of 40.7 million shares is exercised in full, Vale will have disposed of its entire 22 percent stake for 11.2 billion kroner ($1.82 billion).