Vale S.A. agreed to acquire remaining 45% stake in Aliança Geração de Energia S.A. from Cemig Geração e Transmissão S.A. for BRL 2.7 billion.

Vale S.A. (BOVESPA:VALE3) entered into an agreement to acquire the remaining 45% stake in Aliança Geração de Energia S.A. from Cemig Geração e Transmissão S.A. for BRL 2.7 billion on March 27, 2024. The transaction is subject to the approval by Cemig GT?s Shareholders? Meeting and customary precedent conditions, including the approval by competent authorities.

Upon closing Vale will hold 100% of Aliança Energia?s capital. Banco J.P. Morgan S.A. acted as financial advisor to Vale S.A. (BOVESPA:VALE3).