Vale (NYSE: VALE) announced on Monday that it has entered into an agreement to establish a joint venture with Global Infrastructure Partners (GIP), an investment firm based in the United States. This collaboration involves Vale’s Brazilian renewable energy subsidiary, Alianca Energia. As part of the arrangement, Vale will divest 70% of its stake in Alianca to GIP. The transaction is expected to generate approximately $1 billion in cash for Vale.
Vale Secures $1B in Alianca Energia Joint Venture Deal (VALE:NYSE)
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