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Vale S.A. — Capital/Financing Update 2012
Aug 31, 2012
30050_iss_2012-08-31_c0b9fd4a-e07e-45c2-815b-f6914f30fe76.pdf
Capital/Financing Update
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Press Release
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Vale to sell vessels
Rio de Janeiro, August 31, 2012 – Vale S.A. (Vale) informs that it has signed an agreement to sell for US$ 600 million and further charter 10 large ore carriers with Polaris Shipping Co. Ltd. (Polaris).
Those vessels were acquired in 2009/2010 and converted from oil tankers into ore carriers, each with a capacity of approximately 300,000 DWT, for Vale to have at its disposal a fleet of vessels dedicated to transport iron ore to its customers.
The vessels sold will be chartered back by Vale from Polaris under long-term charter contracts. In addition to unlocking capital, the transaction preserves Vale’s capacity of maritime transportation of iron ore, since the vessels will be available but without the ownership and operational risks.
This transaction is part of our continuous effort to optimize the asset portfolio, improving capital allocation and further strengthening of the balance sheet.
For further information, please contact: +55-21-3814-4540 Roberto Castello Branco: [email protected] Viktor Moszkowicz: [email protected] Carla Albano Miller: [email protected] Andrea Gutman: [email protected] Christian Perlingiere: [email protected] Marcio Loures Penna: [email protected] Rafael Rondinelli: [email protected] Samantha Pons: [email protected]
This press release may include statements that present Vale’s expectations about future events or results. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Vale cannot guarantee that such statements will prove correct. These risks and uncertainties include factors related to the following: (a) the countries where we operate, especially Brazil and Canada; (b) the global economy; (c) the capital markets; (d) the mining and metals prices and their dependence on global industrial production, which is cyclical by nature; and (e) global competition in the markets in which Vale operates. To obtain further information on factors that may lead to results different from those forecast by Vale, please consult the reports Vale files with the U.S. Securities and Exchange Commission (SEC), the Brazilian Comissão de Valores Mobiliários (CVM), the French Autorité des Marchés Financiers (AMF), and The Stock Exchange of Hong Kong Limited, and in particular the factors discussed under “Forward-Looking Statements” and “Risk Factors” in Vale’s annual report on Form 20-F.