Vale acquires Oman’s OQ 30% stake in Vale Oman
Vale’s terminal in Oman. Photo by Vale.
Brazilian mining company Vale has bought back a 30% stake in Vale Oman from Oman’s state energy company OQ, the Omani state news agency reported on Tuesday.
OQ, formerly known as Oman Oil Company, bought the stake from Vale in 2010.
Vale Oman has become a 100% foreign company after the acquisition, the state news agency added.
(By Yomna Ehab and Nayera Abdallah; Editing by Jason Neely)
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