Purchase Valley mining company controlled by Americans for R $2 bi

LONDON-the Valley closed the purchase of control of the mining company Ferrous Resources, which has iron ore operations in Minas Gerais and Bahia, for about $ $550 million ($2.14 billion), including debt. The deal was closed with the American Group Icahn Enterprises, which owned 77% of the Ferrous. "We believe that would be a reasonable purchase, because the plant (Ferrous) is close to us," said, in London, the President of Vale, Fabio Schvartsman. According to him, the prospect of the company is that the Brazilian antitrust agencies approve the definitive agreement for the acquisition. "The impact of the operation on the market will be small. We are waiting for the antitrust agencies in Brazil, but we believe the purchase will be approved, "he said. The Executive, who attended the Valley Day, a meeting with analysts and investors held in the British capital, said that the Valley should be among the companies that will bring more benefits to its shareholders. For him, the negative feeling that was generated in the market with the trade between United States and China raids should last a little while and the prices should be retrieved. "The Valley should be the company that should generate more value to its shareholders and we're very proud of that," he said. "And this endless discussion between United States and China therefore adds a negative feeling, but that should be only temporary." The Executive also stressed at the beginning of the presentation, the partnership announced a few days ago in New York, with Glencore, and also the optimism with the decision to keep the nickel operations of VNC, a subsidiary of mining company, amid the increase in car production the world electric. "We believe a lot in VNC," he said. Schvartsman also ensured that "nothing changes" in relation to the agreement announced this week, in New York, with Glencore, after the company in Brazil to be among the targets of the new stage of car wash Operation. "We don't know what it is and if there's really a problem with Glencore." The President of the Valley was keen to emphasize that the partnership with the company also producing commodities is pretty simple. The agreement, he explained, aims at joint operation of copper mines in Canada (Victor and Nickel Rim South) with the goal of generating synergies for companies. "It's a very simple agreement. It is important to understand that the agreement may allow a better administration for companies ", reinforced. Yesterday, it was announced that the operation without limits, the 57th stage of the car wash, investigates international market companies on suspicion of paying millions in kickbacks to employees of Petrobras in Exchange for advantages in the acquisition of oil derivatives. According to Federal prosecutors, in addition to Glencore, are also involved in this operation the Vitol and Trafigura. The payment of kickbacks by Glencore would have been $ $4.1 million, by which suspects the MP, through 160 operations of purchase and sale of oil derivatives and rent of tanks for storage.