13.8 C
New York
Wednesday, December 7, 2022

Don't miss

Vale (VALE3) says it was not summoned to block BRL 10 billion

- Advertisement -
Vale clarifies that the interpretation of the TTAC has already been submitted to the Judiciary, still pending a decision (Image: Credit Vale)

THE OK (VALE3) said this Wednesday (28) that she was not summoned by the Federal Public Ministry (MPF) and the government of the Spiritholy rite to block BRL 10 billion.

The MPF would have made a request for blocking of values, aimed at Samarco’s shareholders, aiming to guarantee resources for the possible inclusion of certain territories in the Transaction and Adjustment of Conduct Agreement (TTAC), according to Valor Econômico.

- Advertisement -

According to Vale, to date, there has been no judicial decision on the requests for review for a possible inclusion of certain territories in the TTAC in the state of ES.

The TTAC was signed in March 2016 between the Samarco and federal authorities and the states of MG and ES, with the support of the company’s shareholders, and led to the creation of the Renova Foundation (Renova).

- Advertisement -

In Renova’s view, however, the aforementioned territories were not impacted, which is why they contested the deliberation of the Interfederative Committee (CIF), formulating a request for review.

As this is a discrepancy, the OK clarifies that the interpretation of the TTAC has already been submitted to the Judiciary, still pending a decision.

The mining company also said that the TTAC does not establish a solidary obligation, but a subsidiary obligation limited to the participation of the mining company. OK in Samarco’s share capital (50%).

Check out Vale’s announcement:

MONEY TIMES IN THE 2022 ELECTIONS!

Watch the special series with the proposals for the economy of the candidates for the Presidency of the Republic! Follow Money Times on Facebook!

Know more! HENRIQUE MEIRELLES TALKS ABOUT ECONOMIC POLICY AND A POSSIBLE RETURN TO GOVERNMENT!

Disclaimer
O Money Times publishes informative articles of a journalistic nature. This publication does not constitute an investment recommendation.

Source: Moneytimes

- Advertisement -
spot_img

Latest Posts

spot_img

Latest