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4-Traders Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Vale SA    VALE5   BRVALEACNPA3


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Vale : Brazil's Vale Sells Stake In Cadam; Exits Kaolin Business

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05/08/2012 | 12:04am CEST

Brazilian mining company Vale SA (VALE, VALE5.BR) said Monday it has sold its 61.5% stake in kaolin producer Cadam SA to KaMin LLC, a privately owned U.S. company, for $30.1 million.

The sale marks Vale's exit from the kaolin business, as part of a move to optimize its assets portfolio, the company said in a statement.

Cadam is a kaolin producer that operates an open-pit mine in the state of Amapa, and a processing plant and a private port, in the state of Para, all in north Brazil. The mine and the plant are linked via a 5.8-kilometer pipeline.

Kaolin, a type of clay, is an industrial mineral used in production of ceramics, refractory bricks, pigments and coatings.

Vale, which also sold kaolin producer Para Pigmentos SA in 2010, said it will receive payment for the sale of its controlling stake in Cadam over five years.

Vale in recent years has increased investments in metals including nickel, copper and coal, as well as in the logistics and energy areas, diversifying from iron ore, which still forms the major part of its business.

-By Diana Kinch, Dow Jones Newswires, 55 21 7564 4495 [email protected]

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Financials ($)
Sales 2017 33 503 M
EBIT 2017 13 280 M
Net income 2017 6 094 M
Debt 2017 18 817 M
Yield 2017 7,03%
P/E ratio 2017 4,91
P/E ratio 2018 6,16
EV / Sales 2017 1,80x
EV / Sales 2018 1,77x
Capitalization 41 363 M
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 10,1 $
Spread / Average Target 34%
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Fábio Schvartsman Chief Executive Officer
Gueitiro Matsuo Genso Chairman
Luciano Siani Pires Chief Financial Officer
Oscar Augusto de Camargo Filho Director
Eduardo de Salles Bartolomeo Director
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