Skip to content
Important notice regarding temporary disruptions affecting online services and form submissions

    Vale has sold shares in Hydro

    Brazilian mining group Vale S.A. announced on Monday an offering to sell shares in Norsk Hydro ASA through a wholly owned subsidiary. Through a book building process Vale sold 407,122,241 shares in Hydro.

    After the completion of the transaction, assuming no exercise of the over-allotment option, Vale has reduced its shareholding, through its wholly-owned subsidiary, from 447,834,465 shares to 40,712,224 shares, thereby reducing its ownership share in Hydro from 21.6% to 2.0% of the shares authorized and issued, thus reducing its shareholding in Hydro below the 5% threshold set out in the Norwegian Securities Trading Act, Section 4-2.

    If the over-allotment option is exercised in full, Vale will not hold any shares in Hydro.

    The shares sold from Vale have been purchased by several investors.