Upon completion of this transaction, provided there is no over-allotment option, Vale has reduced its wholly owned subsidiary from 447,834,465 shares to 40,712,224 shares through its wholly owned subsidiary, which corresponds to a reduction in Hydro's stake from 21.6 percent to 2 , 0 percent of the shares issued. This means that the proportion drops below the 5 percent limit specified in Section 4-2 of the Norwegian Securities Trading Act.
If the over-allotment option is fully exercised, Vale will no longer hold any shares in Hydro.
The shares sold by Vale have been acquired by some investors.
Published: 12 November 2013