Vale S.A. has announced that it has entered into an agreement with Global Infrastructure Partners (GIP) for setting a joint venture in Aliança Geração de Energia S.A., a privately held company operating in the Brazilian energy market. Once the transaction is completed, Vale will receive approximately US$1 billion and hold a 30% stake in the joint venture, while GIP will control the remaining 70%.

Latham & Watkins LLP represents Global Infrastructure Partners in the transaction and the related financing, with a Latin America Practice team led by partners Tony Del Pino and Carlos Ardila, with associates Giancarlo Reanda, Mariana de Medeiros Ferez, Francisco Lanusse, and Melanie von Staa Toledo. Advice was also provided on derivatives matters by partner Carlos Alvarez, with associate Naffie Lamin; and on compliance matters by counsel Katherine Sawyer.