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BN 11/11 15:39 *VALE COMMENTS ON NORSK HYDRO SHARE SALE IN E-MAIL BN 11/11 15:38 *DNB MARKETS, MORGAN STANLEY BOOKRUNNERS ON NORSK HYDRO SALE BN 11/11 15:38 *VALE STAKE IN NORSK HYDRO TO BE BETWEEN 10.82%-9.74% BN 11/11 15:36 *VALE WON'T SELL MORE NORSK HYDRO SHARES FOR 180 DAYS POST OFFER BN 11/11 15:35 *VALE TO SELL BASE OF 224M SHARES, PLUS UP TO 22.4M MORE BN 11/11 15:34 *VALE TO SELL UP TO 246M SHARES OF NORSK HYDRO BN 11/11 15:33 *VALE LAUNCHES OFFERING TO SELL NORSK HYDRO SHARES
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Vale to Sell Up to 246m Shares of Norsk Hydro 2013-11-11 15:46:26.226 GMT
By Heather Burke Nov. 11 (Bloomberg) -- Vale to sell up to 224m shrs through a base offering, plus up to 22.4m additional shrs, which will be made available by Vale pursuant to an over-allotment option. * Vale has agreed not to dispose of any more shrs for 180 days following completion subject to some customary exceptions * If all shrs in base offering sold, assuming no exercise of over-allotment Vale remaining stake 223.8m shrs, or 10.82% of shr capital; stake 9.74% if over-allotment fully exercised * DNB Markets, Morgan Stanley bookrunners * Comments in e-mailed statement
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To contact the editor responsible for this story: Heather Burke at +44-20-7673-2044 or hburke2@bloomberg.net