- Vale (VALE) has agreed to create a hydroelectric-power joint venture with Brazilian power company Cemig (CIG), with Vale to own 55% and Cemig 45%.
- The JV is valued at 4.5B Brazilian reais ($1.88B) and comprises six plants. (PR)
- Vale also plans to sell part of its holding in a controversial hydroelectric dam in the Amazon. (PR)
at Zacks.com (Nov 14, 2014)