0001104659-17-053359.txt : 20170824 0001104659-17-053359.hdr.sgml : 20170824 20170824105118 ACCESSION NUMBER: 0001104659-17-053359 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20170824 DATE AS OF CHANGE: 20170824 GROUP MEMBERS: BANCO NACIONAL DE DESENVOLVIMENTO ECONOMICO E SOCIAL BNDES GROUP MEMBERS: BNDES PARTICIPACOES S.A. BNDESPAR GROUP MEMBERS: BRADESPAR S.A. GROUP MEMBERS: LITEL PARTICIPACOES S.A. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Vale S.A. CENTRAL INDEX KEY: 0000917851 STANDARD INDUSTRIAL CLASSIFICATION: METAL MINING [1000] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-78221 FILM NUMBER: 171048514 BUSINESS ADDRESS: STREET 1: AVENIDA GRACA ARANHA #26 CITY: RIO DE JANEIRO STATE: D5 ZIP: 20005-900 BUSINESS PHONE: 552138144540 MAIL ADDRESS: STREET 1: AVENIDA GRACA ARANHA #26 CITY: RIO DE JANEIRO STATE: D5 ZIP: 20005-900 FORMER COMPANY: FORMER CONFORMED NAME: Companhia Vale do Rio Doce DATE OF NAME CHANGE: 20051108 FORMER COMPANY: FORMER CONFORMED NAME: VALLEY OF THE RIO DOCE CO DATE OF NAME CHANGE: 20020129 FORMER COMPANY: FORMER CONFORMED NAME: VALLEY OF THE DOCE RIVER CO DATE OF NAME CHANGE: 19950602 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: MITSUI & CO LTD CENTRAL INDEX KEY: 0000067099 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-PETROLEUM & PETROLEUM PRODUCTS (NO BULK STATIONS) [5172] IRS NUMBER: 980110185 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 2-1 OTEMACHI 1 CHOME STREET 2: CHIYODA-KU CITY: TOKYO STATE: M0 ZIP: 100-0004 BUSINESS PHONE: 81-3-3285-7910 MAIL ADDRESS: STREET 1: 2-1 OTEMACHI 1 CHOME STREET 2: CHIYODA-KU CITY: TOKYO STATE: M0 ZIP: 100-0004 SC 13D 1 a17-20274_1sc13d.htm SC 13D

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934
(Amendment No.     )

 

Vale S.A.

(Name of Issuer)

 

Common Shares, no par value

(Title of Class of Securities)

 

91912E105(1)

(CUSIP Number)

 

Gueitiro Matsuo Genso

Avenida das Américas, 700 — Bloco 8 — Loja 318

22640-100 Rio de Janeiro, RJ, Brazil

Tel. 55 21 3814-8901

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

 

August 14, 2017

(Date of Event Which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

 


(1)  The CUSIP number is for the American Depositary Shares relating to the Common Shares.

 



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

1

NAMES OF REPORTING PERSONS
BNDES Participações S.A. — BNDESPAR

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)  x(1)

(b)  o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (See Item 3)

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)     o

6

CITIZENSHIP OR PLACE OF ORGANIZATION
Federative Republic of Brazil

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

7

SOLE VOTING POWER
0

8

SHARED VOTING POWER
2,176,730,159
(2)

9

SOLE DISPOSITIVE POWER
0

10

SHARED DISPOSITIVE POWER
448,934,429
(3)

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,176,730,159

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.3% (See Item 5)

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

 


(1)  The Reporting Person may be deemed, for purposes of this Schedule 13D, a member of a group with Litel Participações S.A., Bradespar S.A. and Mitsui & Co. Ltd. only with respect to the Common Shares it beneficially owns that are subject to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(2)   Includes the aggregate number of Common Shares of Vale S.A. with respect to which the Reporting Person may be deemed to share voting power pursuant to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(3)   Includes the aggregate number of Common Shares of Vale S.A. directly beneficially owned by the Reporting Person.

 

2



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

1

NAMES OF REPORTING PERSONS
Banco Nacional de Desenvolvimento Econômico e Social - BNDES

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)  x(4)

(b)  o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (See Item 3)

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)     o

6

CITIZENSHIP OR PLACE OF ORGANIZATION
Federative Republic of Brazil

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

7

SOLE VOTING POWER
0

8

SHARED VOTING POWER
2,176,730,159

9

SOLE DISPOSITIVE POWER
0

10

SHARED DISPOSITIVE POWER
448,934,429
(5)

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,176,730,159

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.3% (See Item 5)

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

 


(4)  As the sole shareholder of BNDES Participações S.A. — BNDESPAR, the Reporting Person may be deemed, for purposes of this Schedule 13D, a member of a group composed of BNDES Participações S.A. — BNDESPAR, Litel Participações S.A., Bradespar S.A. and Mitsui & Co. Ltd. only with respect to the Common Shares directly beneficially owned by BNDES Participações S.A. — BNDESPAR that are subject to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(5)   Includes the aggregate number of Common Shares of Vale S.A. directly beneficially owned by BNDES Participações S.A. — BNDESPAR. The Reporting Person may be deemed an indirect beneficial owner of such Common Shares as the sole shareholder of BNDES Participações S.A. — BNDESPAR.

 

3



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

1

NAMES OF REPORTING PERSONS
Bradespar S.A.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)  x(6)

(b)  o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (See Item 3)

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)     o

6

CITIZENSHIP OR PLACE OF ORGANIZATION
Federative Republic of Brazil

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

7

SOLE VOTING POWER
0

8

SHARED VOTING POWER
2,176,730,159
(7)

9

SOLE DISPOSITIVE POWER
332,965,266(8)

10

SHARED DISPOSITIVE POWER
0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,176,730,159

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.3% (See Item 5)

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

 


(6)  The Reporting Person may be deemed, for purposes of this Schedule 13D, a member of a group with Litel Participações S.A., BNDES Participações S.A.—BNDESPAR and Mitsui & Co. Ltd. only with respect to the Common Shares it beneficially owns that are subject to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(7)  Includes the aggregate number of Common Shares of Vale S.A. with respect to which the Reporting Person may be deemed to share voting power pursuant to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D

 

(8)  Includes the aggregate number of Common Shares of Vale S.A. directly held by Bradespar.

 

4



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

1

NAMES OF REPORTING PERSONS
Litel Participações S.A.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)  x(9)

(b)  o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (See Item 3)

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)     o

6

CITIZENSHIP OR PLACE OF ORGANIZATION
Federative Republic of Brazil

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

7

SOLE VOTING POWER
0

8

SHARED VOTING POWER
2,176,730,159
(10) (11)

9

SOLE DISPOSITIVE POWER
1,011,456,739
(12)

10

SHARED DISPOSITIVE POWER
97,026,670
(13)

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,176,730,159

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.3% (See Item 5)

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

 


(9)  The Reporting Person may be deemed, for purposes of this Schedule 13D, a member of a group with Bradespar S.A., BNDES Participações S.A.—BNDESPAR and Mitsui & Co. Ltd. only with respect to the Common Shares it beneficially owns that are subject to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(10)  Includes 97,026,670 Common Shares indirectly held by Litel through Litela Participações S.A. (“Litela”).

 

(11)  Includes the aggregate number of Common Shares of Vale S.A. with respect to which the Reporting Person may be deemed to share voting power pursuant to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(12)  Includes the aggregate number of Common Shares of Vale S.A. held directly by Litel.

 

(13)  Includes 97,026,670 Common Shares directly held by Litela. Litel directly beneficially owns 99.9% of the total share capital of Litela and thus may be deemed to indirectly beneficially own all of the Common Shares owned by Litela.

 

5



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

1

NAMES OF REPORTING PERSONS
Mitsui & Co., Ltd.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)

 

(a)  x(14)

(b)  o

3

SEC USE ONLY

 

4

SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO (See Item 3)

5

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)     o

6

CITIZENSHIP OR PLACE OF ORGANIZATION
Japan

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH

7

SOLE VOTING POWER
0

8

SHARED VOTING POWER
2,176,730,159
(15)

9

SOLE DISPOSITIVE POWER
286,347,055(16)

10

SHARED DISPOSITIVE POWER
0

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,176,730,159

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)   o

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
44.3% (See Item 5)

14

TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO

 


(14)  The Reporting Person may be deemed, for purposes of this Schedule 13D, a member of a group with Litel Participações S.A., BNDES Participações S.A.—BNDESPAR and Bradespar S.A. only with respect to the Common Shares it beneficially owns that are subject to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(15)  Includes the aggregate number of Common Shares of Vale S.A. with respect to which the Reporting Person may be deemed to share voting power pursuant to the shareholders’ agreement described in Item 4 of this Statement on Schedule 13D.

 

(16)  Includes the aggregate number of Common Shares of Vale S.A. directly held by Mitsui.

 

6



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

Item 1.  Security and Issuer.

 

This statement relates to the common shares, no par value (the “Common Shares”) of Vale S.A. (“Vale”), a Brazilian company.

 

The principal executive offices of Vale are located at Avenida das Américas, 700 — Bloco 8 — Loja 318 22640-100 Rio de Janeiro, RJ, Brazil.

 

Item 2.  Identity and Background.

 

This statement is filed by the persons listed below (the “Reporting Persons”):

 

(1)         BNDES Participações S.A. — BNDESPAR (“BNDESPAR”), a company duly organized and existing in the Federative Republic of Brazil.  The address of BNDESPAR’s principal executive office is Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917.

 

(2)         Banco Nacional de Desenvolvimento Econômico e Social — BNDES (“BNDES”), a Brazilian state-owned development bank and the sole shareholder of BNDESPAR.   The address of BNDES’s principal executive office is Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917.

 

(3)         Bradespar S.A. (“Bradespar”), a company duly organized and existing in the Federative Republic of Brazil.  Bradespar is a holding company with investments in Brazil .  The address of Bradespar’s principal executive office is Avenida Paulista, 1450, 9º andar, 01310-917 São Paulo, SP Brazil.

 

(4)         Litel Participações S.A. (“Litel”), a company duly organized and existing in the Federative Republic of Brazil.  Litel is a holding company whose primary shareholders are certain Brazilian pension funds.  Litel was organized to hold an equity participation in Vale.  The address of Litel’s principal executive office is Rua da Assembleia, nº 10, 37º andar, 3701, parte,  20011-901 Rio de Janeiro, RJ, Brazil.

 

(5)         Mitsui & Co., Ltd. (“Mitsui”), a company duly organized and existing in Japan. Mitsui is primarily engaged in the business of worldwide trading of various commodities. The address of Mitsui’s principal executive office is Nippon Life Marunouchi Garden Tower, 1-3, Marunouchi 1-chome, Chiyoda-ku, Tokyo, 100-8631, Japan.

 

Certain information required by this Item 2 is provided in Exhibit 1, which is incorporated by reference herein for each executive officer and director of each Reporting Person as of the date of the event which requires the filing of this statement, August 14 2017.

 

None of the Reporting Persons nor, to the respective Reporting Person’s best knowledge, any of their respective directors or executive officers as of the date of the event which requires the filing of this statement, August 14, 2017, has, during the five years preceding such date, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

None of the Reporting Persons nor, to the respective Reporting Person’s best knowledge, any of their respective directors or executive officers as of the date of the event which requires the filing of this statement, August 14, 2017, has, during the five years preceding such date, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding been subject to a judgment, decree or final order enjoining future violations of, or prohibiting

 

7



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

 

Item 3.  Source of Funds.

 

The Reporting Persons previously held Common Shares indirectly through Valepar S.A. (“Valepar”), Vale’s former controlling shareholder.  On August 14, 2017, Valepar merged with and into Vale (the “Merger”).  As a result of the Merger, Vale issued a total of 1,908,980,340 Common Shares, no par value, in favor of the Reporting Persons (including Litela, a wholly-owned subsidiary of Litel) and Eletron S.A. (“Eletron”) to replace the 1,716,435,045 Common Shares and 20,340,000 preferred shares of Vale previously been held by Valepar, which were cancelled pursuant to the Merger.  Each Reporting Person and Eletron received 1.2065 Common Shares for each Valepar Common Share or preferred share they owned.

 

Prior to the Merger, BNDESPAR directly beneficially owned an additional 206,378,882 Common Shares and 66,185,272 preferred shares of Vale.  As the sole shareholder of BNDESPAR, BNDES may have been deemed an indirect beneficial owner of the Common Shares directly beneficially owned by BNDESPAR. BNDESPAR acquired an additional 61,830,281 Common Shares by tendering its preferred shares for conversion into Common Shares in the Voluntary Conversion described below in Item 4 of this Statement on Schedule 13D.

 

Item 4.  Purpose of Transaction.

 

On June 27, 2017, the shareholders of Vale approved a series of transactions for the purpose of enabling the listing of Vale on BM&FBOVESPA’s Novo Mercado special segment and making Vale a company without defined control.  The transactions (collectively the “Transaction”), which were originally proposed to Vale by Valepar, as instructed by the Reporting Persons, consist of the following interdependent steps:  (i)  the voluntary conversion of Vale’s class A preferred shares (“Preferred Shares”) into Common Shares, based on the conversion rate of 0.9342 Common Shares for each Preferred Share; (ii) the amendment of Vale’s bylaws so as to adjust them, as much as possible, to Novo Mercado rules so Vale may be effectively listed on such special segment (the “Bylaws Amendment”); and (iii) the Merger.

 

The offer period for the Voluntary Conversion commenced on June 28, 2017 and expired on August 11, 2017.  On August 11, 2017, Vale announced the results of the Voluntary Conversion, which settled on August 14, 2017.  As a result of the Voluntary Conversion, Vale issued 1,551,315,545 additional Common Shares in exchange for 1,660,581,830 Preferred Shares tendered into the Voluntary Conversion.

 

On August 14, 2017, the Merger was implemented. As a result of the completion of the Merger, Valepar was merged into Vale and ceased to exist, and Vale issued an additional 173,543,667 Common Shares, no par value, in favor of the Reporting Persons (including Litela) and Eletron.

 

On August 14, 2017, the Bylaws Amendment came into effect.

 

On August 14, 2017, BNDESPAR, Bradespar, Litel and Mitsui (the “Agreement Shareholders”) executed a new shareholders’ agreement (the “Vale Agreement”), in order to give Vale stability and to adapt its corporate governance structure during the period of transition to its new corporate structure without defined control. The Vale Agreement, which is attached as Exhibit 3, binds 20% of the totality of Vale’s Common Shares, but the Agreement Shareholders have undertaken to vote any additional Vale shares that they own in accordance with the terms of the Vale Agreement.  The Vale Agreement will be in force until November 9, 2020 and the Agreement Shareholders do not intend to renew the Vale Agreement. Under

 

8



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

Vale’s amended bylaws, if the Agreement Shareholders renew the Vale Agreement after its expiration and they continue to collectively own more than 25% of the total capital stock or of the total Common Shares of Vale, the Agreement Shareholders would be required to conduct a mandatory tender offer for all Vale’s Common Shares.

 

Pursuant to the Vale Agreement, the Agreement Shareholders are obligated not to transfer, by any means, either directly or indirectly, Vale shares they receive as a result of the implementation of the Proposal (“Lock-Up”) for six months after the date of the Vale Agreement, except for (i) the transfer of Vale’s shares by the Agreement Shareholders to their affiliates and their current shareholders, provided that such transferred shares shall remain subject to the Lock-Up, and (ii) the transfer of shares not subject to the Vale Agreement held by the Agreement Shareholders prior to the Transaction.

 

Other than as described above and in Item 6 or as set forth in the Vale Agreement, none of the Reporting Persons nor, to any Reporting Person’s best knowledge, any of the persons listed in Exhibit 1 hereto, currently has any plan or proposal which relates to or would result in any of the transactions described in Item 4 of Schedule 13D.

 

Item 5.  Interest in Securities of the Issuer.

 

(a)  After giving effect to the Bylaws Amendment and the consummation of the Voluntary Conversion and the Merger, the Reporting Persons share voting power, and thus may be deemed to beneficially own, directly and indirectly, 2,176,730,159 Common Shares, or 44.3% of the issued and outstanding Common Shares. The Agreement Shareholders may also be deemed to be members of a Section 13(d) group with respect to such 2,176,730,159 Common Shares. Although it is not a party to the Vale Agreement, BNDES may also be deemed a member of the Section 13(d) group based on its indirect beneficial ownership of the Common Shares directly beneficially owned by BNDESPAR.

 

9



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

The Reporting Persons have direct beneficial ownership interests in the following Common Shares. Except as between BNDESPAR and BNDES and between Litel and Litela, the Reporting Persons do not have shared dispositive power with respect to any of these Common Shares.

 

 

 

Common Shares Directly Owned(1)

 

 

 

Number

 

% of Class

 

BNDESPAR(2) (3)

 

448,934,429

 

9.1

%

BNDES(4)

 

0

 

0

%

Bradespar(3)

 

332,965,266

 

6.8

%

Litel(3) (5)

 

1,011,456,739

 

20.6

%

Mitsui(3)

 

286,347,055

 

5.8

%

 


(1) All percentages are based on 4,910,512,212 Common Shares issued and outstanding as of August 14, 2017 after giving effect to the consummation of the Voluntary Conversion and completion of the Merger.

 

(2) Includes (i) 206,378,882 Common Shares directly held by BNDESPAR immediately prior to the Voluntary Conversion and Merger, (ii) 61,830,281 Common Shares received by BNDESPAR upon consummation of the Voluntary Conversion in exchange for 66,185,272 preferred shares of Vale tendered by BNDESPAR, and (iii) 180,725,266 Common Shares received by BNDESPAR as a result of the Merger.

 

(3)  The Vale Agreement binds 20% of the totality of Vale’s Common Shares, but the Reporting Persons undertake to vote any additional Vale shares that they own in accordance with the terms of the Vale Agreement. Accordingly, each Reporting Person may be deemed to be a beneficial owner of the aggregate number of Common Shares owned by all Reporting Persons.

 

(4) As the sole shareholder of BNDESPAR, BNDES may be deemed an indirect beneficial owner of the Common Shares directly beneficially owned by BNDESPAR.

 

(5)  Includes 1,011,456,739 Common Shares directly held by Litel. Litela directly owns 97,026,670 Common Shares.  Litel directly beneficially owns 99.9% of the total share capital of Litela and thus may be deemed to indirectly beneficially own all of the Common Shares beneficially owned by Litela.

 

(b) With respect to any rights or powers to vote, or to direct the vote of, or to dispose of, or direct the disposition of, the Common Shares referenced in paragraph 5(a), none of the Reporting Persons has sole voting power over any Common Shares, each Reporting person has shared voting power with respect to 2,176,730,159 Common Shares, and:

 

(i)                                     Neither BNDESPAR nor BNDES has sole dispositive power with respect to any of the Common Shares. BNDESPAR and BNDES have shared dispositive power with respect to 448,934,429 Common Shares, of which 180,725,266 Common Shares are subject to a six-month Lock-Up pursuant to the Vale Agreement.

 

(ii)                                  Bradespar has sole dispositive power with respect to 332,965,266 Common Shares, subject to a six-month Lock-Up pursuant to the Vale Agreement.

 

(iii)                               Litel and Litela have shared dispositive power with respect to 97,026,670 Common Shares indirectly held by Litel through Litela. Litel has sole dispositive power with respect to 1,011,456,739 Common Shares, subject to a six-month Lock-Up pursuant to the Vale Agreement.

 

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CUSIP No.

 

 

91912E105

 

13D

 

 

(iv)                              Mitsui has sole dispositive power with respect to 286,347,055 Common Shares, subject to a six-month Lock-Up pursuant to the Vale Agreement.

 

(c) No transactions in the Common Shares, other than the acquisitions described herein, have been effected by any Reporting Person in the sixty days prior to the event, on August 14, 2017, that required the filing of this statement.

 

(d) Not applicable.

 

(e) Not applicable.

 

Item 6.  Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.

 

The description of the terms of the Vale Agreement set forth above in Item 4 is incorporated herein by reference.  This description is a summary only and is qualified in its entirety by the terms of the Vale Agreement, which is filed as Exhibit 3 to this Schedule 13D, and is incorporated herein by reference.

 

Item 7.  Material to be Filed as Exhibits.

 

Exhibit 1:  List of Executive Officers and Directors of each Reporting Person as of the date of the event which requires the filing of this statement, August 14, 2017.

 

Exhibit 2: Joint Filing Agreement of the Reporting Persons.

 

Exhibit 3: Vale Agreement, dated August 14, 2017 (incorporated by reference to Vale S.A.’s current report on Form 6-K furnished to the SEC on August 15, 2017 (File No. 001-15030)).

 

11



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 24, 2017

 

 

 

 

 

BNDES Participações S.A. — BNDESPAR

 

 

 

 

/s/ Paulo Rabello de Castro

 

By: Paulo Rabello de Castro

 

 

Title: Chief Executive Officer

 

 

 

 

 

/s/ Eliane Lustosa

 

 

By: Eliane Lustosa

 

 

Title: Officer

 

 

 

12



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 24, 2017

 

 

 

 

 

Banco Nacional de Desenvolvimento Econômico e Social — BNDES

 

 

 

/s/ Paulo Rabello de Castro

 

By: Paulo Rabello de Castro

 

 

Title: Chief Executive Officer

 

 

 

 

 

/s/ Eliane Lustosa

 

 

By: Eliane Lustosa

 

 

Title: Officer

 

 

 

13



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 24, 2017

 

 

 

 

 

Bradespar S.A.

 

 

 

/s/ Fernando Jorge Buso Gomes

 

By: Fernando Jorge Buso Gomes

 

Title: Chief Executive Officer

 

 

 

14



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 24, 2017

 

 

 

 

 

Litel Participações S.A.

 

 

 

/s/ Gilmar Dalilo Cezare Wanderley

 

By: Gilmar Dalilo Cezare Wanderley

 

 

Title: Financial Officer

 

 

 

 

 

/s/ Renato Proença Lopes

 

 

By: Renato Proença Lopes

 

 

Title: Administrative Officer

 

 

 

15



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

August 24, 2017

 

 

 

 

 

Mitsui & Co Ltd.

 

 

 

/s/ Makoto Suzuki

 

By: Makoto Suzuki

 

 

Title: Representative Director, Executive Vice President

 

 

16



 

 

CUSIP No.

 

 

91912E105

 

13D

 

 

EXHIBIT INDEX

 

Exhibit
No.

 

Description

1

 

List of Executive Officers and Directors of each Reporting Person as of the date of the event which requires the filing of this statement, August 14, 2017.

 

 

 

2

 

Joint Filing Agreement of the Reporting Persons.

 

 

 

3

 

Vale Agreement, dated August 14, 2017 (incorporated by reference to Vale S.A.’s current report on Form 6-K furnished to the SEC on August 15, 2017 (File No. 001-15030)).

 

17


EX-1 2 a17-20274_1ex1.htm EX-1

Exhibit 1

 

List of Executive Officers and Directors of BNDESPAR

 

The following information is provided for each of the directors and executive officers of BNDESPAR as of the date of the event which requires the filing of this statement, August 14, 2017:

 

·                  name,

·                  residence or business address,

·                  present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and

 

All of the following persons are citizens of the Federative Republic of Brazil.

 

Directors as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is conducted

Fernando Antônio Ribeiro Soares

 

Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917

 

Director

Antônio Carlos de Paiva Futuro

 

Same as above

 

Director

Hailton Madureira de Almeida

 

Same as above

 

Director

George Alberto de Aguiar Soares

 

Same as above

 

Director

Cleiton dos Santos Araújo

 

Same as above

 

Director

 

 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is

conducted

Ricardo Luiz de Souza Ramos

 

Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917

 

Executive Officer

Claudia Pimentel Trindade Prates

 

Same as above

 

Executive Officer

Eliane Aleixo Lustosa de Andrade

 

Same as above

 

Executive Officer

Marilene de Oliveira Ramos Múrias dos Santos

 

Same as above

 

Executive Officer

Marcelo de Siqueira Freitas

 

Same as above

 

Executive Officer

Paulo Rabello de Castro

 

Same as above

 

President

 

 

1



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is conducted

Carlos Alexandre Jorge da Costa

 

Same as above

 

Executive Officer

Carlos Thadeu de Freitas Gomes

 

Same as above

 

Executive Officer

 

2



 

List of Executive Officers and Directors of BNDES

 

The following information is provided for each of the directors and executive officers of BNDESPAR as of the date of the event which requires the filing of this statement, August 14, 2017:

 

·                  name,

·                  residence or business address,

·                  present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and

 

All of the following persons are citizens of the Federative Republic of Brazil.

 

Directors as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is conducted

Fernando Antônio Ribeiro Soares

 

Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917

 

Director

Antônio Carlos de Paiva Futuro

 

Same as above

 

Director

Hailton Madureira de Almeida

 

Same as above

 

Director

George Alberto de Aguiar Soares

 

Same as above

 

Director

Cleiton dos Santos Araújo

 

Same as above

 

Director

 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is

conducted

Ricardo Luiz de Souza Ramos

 

Av. República do Chile, 100 - Centro, Rio de Janeiro, R.J. - CEP: 20.031-917

 

Executive Officer

Claudia Pimentel Trindade Prates

 

Same as above

 

Executive Officer

Eliane Aleixo Lustosa de Andrade

 

Same as above

 

Executive Officer

Marilene de Oliveira Ramos Múrias dos Santos

 

Same as above

 

Executive Officer

Marcelo de Siqueira Freitas

 

Same as above

 

Executive Officer

Paulo Rabello de Castro

 

Same as above

 

President

Carlos Alexandre Jorge da Costa

 

Same as above

 

Executive Officer

 

 

3



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business

address

 

Present principal occupation or

employment and name, principal

business and address of any

corporation or other organization in

which such employment is

conducted

Carlos Thadeu de Freitas Gomes

 

Same as above

 

Executive Officer

 

4



 

List of Executive Officers and Directors of Bradespar

 

The following information is provided for each of the directors and executive officers of Bradespar as of the date of the event which requires the filing of this statement, August 14, 2017:

 

·                  name,

·                  residence or business address,

·                  present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and

 

All of the following persons are citizens of the Federative Republic of Brazil.

 

Directors as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or

employment and name, principal business

and address of any corporation or other

organization in which such employment is

conducted

Lázaro de Mello Brandão

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Chairman

Luiz Carlos Trabuco Cappi

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Vice Chairman

Denise Aguiar Alvarez

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

João Aguiar Alvarez

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

Carlos Alberto Rodrigues Guilherme

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

Milton Matsumoto

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

José Alcides Munhoz

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

Aurélio Conrado Boni

 

Núcleo Cidade de Deus, Vila Yara, Osasco, SP, CEP 06029-900

 

Board Member

André Leal Faoro

 

Rua Araújo Porto Alegre, 36, sala 1.102, Rio de Janeiro, RJ, CEP 20030-013

 

Board Member

 

5



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or

employment and name, principal business

and address of any corporation or other

organization in which such employment is

conducted

Fernando Jorge Buso Gomes

 

Avenida Paulista, 1450, 9º andar,
01310-917 São Paulo, SP Brazil

 

Chief Executive Officer

Johan Albino Ribeiro

 

Avenida Paulista, 1450, 9º andar,
01310-917 São Paulo, SP Brazil

 

Executive Officer

 

6



 

List of Executive Officers and Directors of Litel

 

The following information is provided for each of the directors and executive officers of Litel as of the date of the event which requires the filing of this statement, August 14, 2017:

 

·                  name,

·                  residence or business address,

·                  present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and

 

All of the following persons are citizens of the Federative Republic of Brazil.

 

Directors as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or

employment and name, principal business

and address of any corporation or other

organization in which such employment is

conducted

Arthur Prado Silva

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

Chairman of Litel; Executive Manager of PREVI - Caixa de Previdência dos Funcionários do Branco do Brasil (“Previ”)

Gilmar Dalilo Cezar Wanderley

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

Board Member of Litel; Manager of Securities Interests of Previ

João Ernesto Lima Mesquita

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

Board Member of Litel; Manager of Securities Interests of Previ

Carlos Antônio Vieira Fernandes

 

SCN, Quadra 02, Bloco A, 12º andar, Brasília — DF — CEP 70712-900

 

Board Member of Litel; CEO - Chief Executive Officer of Funcef - Fundação dos Economiários Federais

 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or

employment and name, principal business

and address of any corporation or other

organization in which such employment is

conducted

Gueitiro Matsuo Genso

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

CEO - Chief Executive Officer of Litel; President of Previ

Gilmar Dalilo Cezar Wanderley

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

CFO - Chief Financial Officer of Litel; Manager of Securities Interests of Previ

Renato Proença Lopes

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

Administrative Officer of Litel; Director of Participations at Previ

 

7



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or

employment and name, principal business

and address of any corporation or other

organization in which such employment is

conducted

Marcel Juviniano Barros

 

Praia de Botafogo, nº 501, 4º andar, Rio de Janeiro — RJ — CEP 22250-040

 

Executive Officer of Litel; Officer of Securities at Previ

 

8



 

List of Executive Officers and Directors of Mitsui

 

The following information is provided for each of the directors and executive officers of Mitsui as of the date of the event which requires the filing of this statement, August 14, 2017:

 

·                  name,

·                  residence or business address,

·                  present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted, and

 

All of the following persons, except Mr. Samuel Walsh and Ms. Jenifer Rogers are citizens of Japan.  Mr. Samuel Walsh is a citizen of Australia and Ms. Jenifer Rogers is a citizen of United States of America.

 

Directors as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or 
employment and name, principal business 
and address of any corporation or other 
organization in which such employment is 
conducted

Masami Iijima

 

1-3, Marunouchi 1-chome, Chiyoda-ku, Tokyo, Japan

 

Representative Director, Chairman of the Board of Directors

Tatsuo Yasunaga

 

Same as above

 

Representative Director, President and Chief Executive Officer

Hiroyuki Kato

 

Same as above

 

Representative Director, Executive Vice President

Yoshihiro Hombo

 

Same as above

 

Representative Director, Executive Vice President

Makoto Suzuki

 

Same as above

 

Representative Director, Executive Vice President

Satoshi Tanaka

 

Same as above

 

Representative Director, Executive Vice President

Keigo Matsubara

 

Same as above

 

Representative Director, Senior Executive Managing Officer

Shinsuke Fujii

 

Same as above

 

Representative Director, Senior Executive Managing Officer

Nobuaki Kitamori

 

Same as above

 

Representative Director, Executive Managing Officer

Toshiro Muto

 

Same as above

 

Director

Izumi Kobayashi

 

Same as above

 

Director

Jenifer Rogers

 

Same as above

 

Director

Hirotaka Takeuchi

 

Same as above

 

Director

Samuel Walsh

 

Same as above

 

Director

 

9



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or 
employment and name, principal business 
and address of any corporation or other 
organization in which such employment is 
conducted

Tatsuo Yasunaga

 

Same as above

 

President and Chief Executive Officer; Chairman, Internal Controls Committee; Head of Crisis Management Headquarters

Hiroyuki Kato

 

Same as above

 

Executive Vice President; Iron & Steel Products Business Unit; Mineral & Metal Resources Business Unit; Energy Business Unit I; Energy Business Unit II

Yoshihiro Hombo

 

Same as above

 

Executive Vice President; Basic Materials Business Unit; Performance Materials Business Unit; Nutrition & Agriculture Business Unit; Food Business Unit; Food & Retail Management Business Unit

Makoto Suzuki

 

Same as above

 

Executive Vice President; Chief Compliance Officer; Corporate Staff Unit (Secretariat, Audit & Supervisory Board Member Division, Human Resources & General Affairs Division, Legal Division, Corporate Logistics Division, New Head Office Building Development Department); Business Continuity Management; New Headquarter Project; Chairman, Compliance Committee; Chairman, Diversity Promotion Committee; Head of Emergency Management Headquarter

Satoshi Tanaka

 

Same as above

 

Executive Vice President; Chief Administrative Officer; Chief Information Officer; Chief Privacy Officer; Corporate Staff Unit (Corporate Planning & Strategy Division, Investment Administrative Division, Information Technology Promotion Division, Regional Business Promotion Division, Corporate Communications Division, Environmental Social Contribution Division, Business Supporting Unit (Each Planning & Administrative Division)), Domestic Offices and Branches; HQ Overseen Region; Business Innovation & Incubation; Environmental Matters; Chairman, Information Strategy Committee; Chairman, Sustainability Committee; Chairman, Business Innovation Committee

Atsushi Kume

 

Same as above

 

Senior Executive Managing Officer; Chief Operating Officer of EMEA (Europe, the Middle East and Africa) Business Unit

 

10



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or 
employment and name, principal business 
and address of any corporation or other 
organization in which such employment is 
conducted

Takeshi Kanamori

 

Same as above

 

Senior Executive Managing Officer; Chief Representative of Mitsui & Co., Ltd. in China; Chairman & Managing Director of Mitsui & Co., Ltd. In China

Yasushi Takahashi

 

Same as above

 

Senior Executive Managing Officer; Chief Operating Officer, Americas Business Unit

Keigo Matsubara

 

Same as above

 

Senior Executive Managing Officer; Chief Financial Officer; Corporate Staff Unit (CFO Planning & Administrative Division, Global Controller Division, Finance Division, Risk Management Division, Investor Relations Division, Business Supporting Unit (Financial Management & Advisory Division I, II, III, IV)); Chairman, Disclosure Committee; Chairman, J-SOX Committee

Shinsuke Fujii

 

Same as above

 

Senior Executive Managing Officer; Healthcare & Service Business Unit; Consumer Business Unit; Corporate Development Business Unit; Chairman, Portfolio Management Committee

Taku Morimoto

 

Same as above

 

Senior Executive Managing Officer; Chief Operating Officer of Asia Pacific Business Unit

Yasuyuki Fujitani

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Corporate Development Business Unit

Nobuaki Kitamori

 

Same as above

 

Executive Managing Officer; Chief Digital Officer, Infrastructure Projects Business Unit; Integrated Transportation Systems Business Unit I; Integrated Transportation Systems Business Unit II; IT & Communication Business Unit; Digital Transformation

Motoo Ono

 

Same as above

 

Executive Managing Officer; General Manager of Human Resources & General Affairs Division

Yukio Takebe

 

Same as above

 

Executive Managing Officer; Chairman & Managing Director of Mitsui & Co. (Australia) Ltd.

Shinsuke Kitagawa

 

Same as above

 

Executive Managing Officer; General Manager of Osaka Office

Noboru Katsu

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Iron & Steel Products Business Unit

Takakazu Uchida

 

Same as above

 

Executive Managing Officer; General Manager of Finance Division

 

11



 

Executive Officers as of August 14, 2017

 

Name

 

Residence or Business address

 

Present principal occupation or 
employment and name, principal business 
and address of any corporation or other 
organization in which such employment is 
conducted

Hiromichi Yagi

 

Same as above

 

Executive Managing Officer; Chief Representative of Mitsui & Co., Ltd. in South West Asia; Managing Director of Mitsui & Co. India Pvt. Ltd.

Shinichiro Omachi

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Mineral & Metal Resources Business Unit

Hiroyuki Tsurugi

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Energy Business Unit I

Hirotatsu Fujiwara

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Energy Business Unit II

Kenichi Hori

 

Same as above

 

Executive Managing Officer; Chief Operating Officer of Nutrition & Agriculture Business Unit

 

12


EX-2 3 a17-20274_1ex2.htm EX-2

Exhibit 2

 

JOINT FILING AGREEMENT

 

THIS JOINT FILING AGREEMENT (this “Agreement”) is made and entered into as of this 14th day of August 2017, by and among BNDES Participações S.A. — BNDESPAR (“BNDESPAR”), Banco Nacional de Desenvolvimento Econômico e Social — BNDES (“BNDES”), Bradespar S.A. (“Bradespar”), Litel Participações S.A. (“Litel”) and Mitsui & Co Ltd. (“Mitsui”).

 

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the parties to this Agreement hereby agree to prepare jointly and file timely (and otherwise to deliver as appropriate) all filings on Schedule 13D or 13G relating to their ownership (direct or otherwise) of any securities of Vale S.A., a corporation (sociedade anônima) organized under the laws of the Federative Republic of Brazil, and any and all amendments thereto and any other document relating thereto (collectively, the “Filings”) required to be filed by them pursuant to the Exchange Act.  Each party to this Agreement further agrees and covenants to the other parties that it will fully cooperate with such other parties in the preparation and timely filing (and other delivery) of all such Filings. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument. Each party to this Agreement acknowledges that it shall be responsible for the timely filing of such Filings, and for the completeness and accuracy of the information concerning itself or contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the other parties to this Agreement contained herein or therein.

 

1



 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.

 

 

BNDES Participações S.A. — BNDESPAR

/s/ Paulo Rabello de Castro

 

By: Paulo Rabello de Castro

 

Title: Chief Executive Officer

 

 

 

/s/ Eliane Lustosa

 

By: Eliane Lustosa

 

Title: Officer

 

 

 

 

 Banco Nacional de Desenvolvimento Econômico

/s/ Paulo Rabello de Castro

 e Social — BNDES

By: Paulo Rabello de Castro

 

Title: Chief Executive Officer

 

 

 

/s/ Eliane Lustosa

 

By: Eliane Lustosa

 

Title: Officer

 

 

 

 

 

/s/ Fernando Jorge Buso Gomes

Bradespar S.A.

By: Fernando Jorge Buso Gomes

 

Title: Chief Executive Officer

 

 

 

 

Litel Participações S.A.

/s/ Gilmar Dalilo Cezare Wanderley

 

By: Gilmar Dalilo Cezare Wanderley

 

Title: Financial Officer

 

 

 

/s/ Renato Proença Lopes

 

By: Renato Proença Lopes

 

Title: Administrative Officer

 

 

 

 

Mitsui & Co Ltd.

/s/ Makoto Suzuki

 

By: Makoto Suzuki

 

Title: Representative Director, Executive Vice President

 

2