RIO DE JANEIRO, Brazil, July 3 /CNW/ -- Companhia Vale do Rio Doce (Vale)
announces that, subject to market conditions and receipt of final approval
from the Brazilian securities regulator (Comissao de Valores Mobiliarios), it
plans to launch a global offering of up to 256,926,766 common shares and
164,402,799 preferred shares (not including any exercise of the underwriters
over-allotment option) on or near July 4, 2008. The global offering will
consist of a registered offering in Brazil and an international offering,
which will include a registered offering in the United States. Investors in
the international offering may elect to receive their shares in the form of
American Depositary Shares (ADSs). The closings of the Brazilian offering and
the international offering will be conditioned upon each other. Further
information about the offers will be contained in the offering documents.
Existing shareholders of Vale that are resident in Brazil will have the
right to subscribe for shares in the Brazilian offering on a priority basis.
Our principal shareholder, Valepar, has decided to subscribe the number of
common shares required to maintain its proportionate interest in our common
shares following our capital increase.
As previously announced, Vale will use the net proceeds of this offering
for general corporate purposes, which may include financing its program of
organic growth based on its US$59 billion investment plan, strategic
acquisitions and increased financial flexibility.
In connection with this offering, Vale has applied to list and trade its
common and preferred ADSs on Euronext Paris. Vale's common shares and
preferred shares are listed on the Sao Paulo Stock Exchange, and its common
ADSs and the preferred ADSs are listed on the New York Stock Exchange.
Credit Suisse Securities (USA) LLC is acting as lead underwriter.
Vale has an effective registration statement on file with the U.S.
Securities and Exchange Commission. If the offering proceeds, copies of the
preliminary prospectus supplement for the international offering, when
available, may be obtained from Credit Suisse Prospectus Department, One
Madison Avenue, New York, NY, 10010, +1 800 221 1037, or by visiting EDGAR on
the SEC Web site at www.sec.gov. Before you invest, you should read the
preliminary prospectus supplement and other documents that Vale has filed and
will file with the SEC for more complete information about Vale and the
For further information:
For further information: Roberto Castello Branco,
firstname.lastname@example.org, or Alessandra Gadelha,
email@example.com, or Patricia Calazans,
firstname.lastname@example.org, or Theo Penedo, email@example.com, or Marcus
Thieme, firstname.lastname@example.org, or Tacio Neto, email@example.com, all of
Vale, +011-55-21-3814-4540 Web Site: http://www.cvrd.com.br