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Strategies & Market Trends : Dino's Bar & Grill

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From: Goose94	12/3/2014 9:22:09 AM
	Read Replies (2) of 202784

INCO back in Canada!!! Inco Ltd. could be poised to return to the public markets in some form. Brazilian mining giant Vale SA, which paid nearly $20-billion for Inco in 2006, said Tuesday it may sell part of its base metals unit in an initial public offering, likely on the Toronto Stock Exchange. This follows years of speculation that Vale could divest the business. Vale wants liquidity as it plans a huge capital spending program next year amid low iron ore prices. More important, these assets are completely lost inside the huge Brazilian company. "We believe there's hidden value there," chief executive officer Murilo Ferreira said in a press conference in New York. "We believe this value has to be better expressed." The base metals unit is highly profitable, but analysts and investors pay little attention to it. Vale believes the business may be worth $30-billion to $35-billion, which is not much less than its current market value of $43-billion. The company is looking to sell a minority stake in the business, maintaining a controlling interest. Vale has not yet taken the spinoff proposal to its board of directors.

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