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Vale Owns Stake in Norsk Hydro

Under a deal reached in May, Vale will own the stake in Hydro as partial payment for the Norwegian company’s USD 4,9 billion purchase of alumina and bauxite assets from the Brazilian group.  The Norwegian government must give its approval whenever a company takes a strategic stake in a Norwegian power producer. Norsk Hydro has a number of hydropower assets. Hydro expects to finalise its acquisition of Vale’s bauxite and alumina unit in the fourth quarter of 2010. (Source: Reuters, 09/2010)

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