https://www.reuters.com/article/us-bndes-divestment-vale-sa-idUSKCN2502GI

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A sign at the main entrance of the Brazilian National Development Bank (BNDES) building is seen in Rio de Janeiro, Brazil January 8, 2019. REUTERS/Sergio Moraes. RIO (Reuters) - Brazil’s state-controlled development bank BNDES raised 8.1 billion reais ($1.53 billion) by selling 135 million shares in miner Vale SA ( VALE3.SA ) in an auction on Tuesday morning, a source familiar with the matter said. After this sale, BNDES has reduced its stake in the company to 3.7% from 6.3%, the source added. The move by BNDES comes as the state-controlled lender has been divesting shares in companies recently as part of far-right President Jair Bolsonaro’s strategy to reduce government stakes in companies. Last week, BNDES agreed to sell its stake in power company AES Tiete Energia SA ( TIET11.SA ) to the firm’s controlling shareholder AES Corp ( AES.N... Full story

4 August

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