Vale forms $1.9B JV with power company

|About: Vale S.A. (VALE)|By:, SA News Editor

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)