April auction for CVRD
Article Abstract:
There is likely to be strong interest in the forthcoming auction of a 40-45% controlling block of shares in Brazilian mining concern Companhia Vale do Rio Doce. It is thought that the entire company will be valued at $9.5 billion. After the initial auction, further government shares will be sold in domestic and international public offers. Employees of the company will be permitted to take part in the privatisation, receiving a discount of 60% on the offer price for 4.45% of ordinary shares and 6% of preference shares.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
CVRD auction goes ahead
Article Abstract:
The Valepar consortium has acquired a 41.7% voting stake in mining company Companhia Vale do Rio Doce (CVRD) of Brazil for $3.15 billion. Valepar is 39%-owned by steel manufacturer Companhia Siderurgica Nacional (CSN) of Brazil, with other consortium members comprising NationsBank Corporation of South Africa, pension funds and Opportunity Asset Management. A further 26.5%-31.5% stake should be offered globally in autumn 1997, while CVRD employees will be offered 5.1% of total stock.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Zambia digs up mining investors
Article Abstract:
The Zambian copper mining company Luanshya has been sold to mining concern Roan Antelope Mining Corporation for approximately 245 million US dollars. Chinese operator Construction Corporation of China has bought an 85% share of the Chambishi mine, belonging to the Zambia Consolidated Copper Mines organization. The state-owned Kenya Posts and Telecommunications business will be privatized in 1998.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Trial run. Data mining. Who goes there? Speaker recognition
- Abstracts: Crisil aims to gain from India's increasing use of debt. India software stocks hot. Sell it yourself: direct sales help makeup brand storm across India
- Abstracts: Grant China accession to the WTO before it's too late. China makes concessions
- Abstracts: Changing the face of learning. Training goes the distance. Losing your religion: Putting money into PCs is like 'building a more expansive ashtray'
- Abstracts: Green on red. Of mice and men. Clipped wings: South Korea's crisis grounds its jet-building plans