Deals
Vale Weighs IPO of Metals Unit After Sale of 10% Stake
- Possible listing or spinoff would likely happen in 2024
- Former Anglo American CEO Cutifani was approached about role
A nickel mining site operated by PT Vale Indonesia
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Vale SA is considering a spinoff or initial public offering of its sprawling base metals business after it completes the sale of a minority stake, according to people familiar with the situation.
The Brazilian mining giant is in talks to sell a 10% stake in the unit and expects final bids in that process to be submitted by mid-April, said one of the people, who asked not to be identified because the deliberations are private. Once the transaction is completed, Vale will likely list the unit or spin it off in 2024, the person said.