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PT Vale Announces Closing of Divestment Transaction

Metal News - Published on Thu, 08 Oct 2020

Image Source: PT Vale Indonesia
PT Vale Indonesia Tbk announced that, as informed by its shareholders, Vale Canada Limited and Sumitomo Metal Mining Co Ltd, VCL and SMM have completed the sale and transfer of an aggregate of 20% of their shareholding in PT Vale, through the Indonesian Stock Exchange, to the buyer nominated by the Government of the Republic of Indonesia, PT Indonesia Asahan Aluminium. This further satisfies PT Vale’s divestment obligation under the Contract of Work Amendment dated 17 October 2014 signed by PT Vale and the Government of the Republic of Indonesia. Based on the COW Amendment, a divestment process is one of the obligations that PT Vale needs to comply with to extend its operation beyond 2025.

Upon completion of the Transaction, the shareholding structure of PT Vale becomes as follows:
No Shareholder Name
Vale Canada Limited 43.79%
Sumitomo Metal Mining Co Ltd 15.03%
Vale Japan Limited 0.55%
Sumitomo Corporation 0.14%
PT Indonesia Asahan Aluminium (Persero) 20.00%
Public 20.49%

VCL's 44.3% stake in PT Vale includes the participation through VCL (43.8%) and Vale Japan Limited (0.5%).

Source :

Posted By : Yogender Pancholi on Thu, 08 Oct 2020
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