September 26, 2018 / 11:20 AM / in 2 months

Shareholders of Brazil's Vale should reach deal to pay Eletron 2.82 bln reais

SAO PAULO, Sept 26 (Reuters) - Shareholders of Brazilian mining company Vale SA should reach an agreement on Wednesday to pay 2.82 billion reais ($692.01 million) to Eletron to settle a dispute, holding company Litel Participações SA said in a securities filing.

The payment is expected to be formalized on Wednesday in court. Brazilian holding company Bradespar SA, one of the largest shareholders in Vale, and Litel, owned by pension funds, were on the hook for a 4 billion reais judgment awarded by a court to fellow shareholder Elétron, a holding company controlled by banker Daniel Dantas. ($1 = 4.0751 reais) (Reporting by Carolina Mandl Editing by Chizu Nomiyama)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below