Brazil’s Vale shareholders approve corporate reorganisation

June 27, 2017

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Shareholders of Vale on Tuesday approved a share conversion plan, its press office said, in a bid to boost transparency, give equal votes to all shares and limit the possibility of government meddling in the world’s No 1 iron-ore producer.

Shareholders approved all seven items on the corporate restructuring agenda, which is a first step towards giving the company dispersed share ownership – where no major shareholder controls decision making at the firm.

Category: General