Paranapanema: Vale is not alone

Vale offered 2 billion reais (almost 1,15 billion dollars) for the assets of Paranapanema - about 6.30 reais (3,6 dollars) per share. The value was considered low by some major shareholders.

Vale will have to compete with others interested in the acquisition of the copper producer, such as the German group Aurubis, that a few years ago tried to buy Paranapanema and recently expressed its renewed interest in the company.
Aurubis is a German company engaged in the production of primary copper and precious metals.
Their representatives recently met with Paranapanema shareholders and showed they are willing to take control of the company.

Vale announced that it will only close the deal with Paranapanema if over 50% stake in the shareholding structure is achieved, which should not be difficult, considering that most of the company's shares are in possession of large economic groups such as the BNDES pension fund, Previ and Petros, who are also shareholders of Vale, which should facilitate the transaction.