Vale Pays $113M To Gain Control Of 2 Hydroelectric Plants

Law360, Los Angeles (March 14, 2013, 7:17 PM EDT) -- Brazilian mining giant Vale SA has purchased a nearly 12.5 percent stake in Capim Branco Energia SA from paper and pulp company Suzano Papel e Celulose SA for $113 million, giving it control of two hydroelectric power plants, the company said Thursday.

The deal will increase Vale's investment in the Capim Branco I and II hydroelectric plants to about 61 percent while saving it a hefty sum, according to the company.

“The acquisition of an additional stake in Capim Branco I and II hydropower plants is...
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