June 27, 2017 / 4:35 PM / a year ago

Brazil's Vale shareholders approve conversion of shares

RIO DE JANEIRO, June 27 (Reuters) - Shareholders of Vale SA on Tuesday approved a plan to make the world’s No. 1 iron ore producer a company with dispersed share ownership, the press office said, in a landmark step aimed at enhancing transparency and equal rights.

Shareholders approved all seven items on the restructuring agenda, including the voluntary conversion of preferred shares into common shares, the office said. (Reporting by Marta Nogueira, Alexandra Alper and Guillermo Para-Bernal)

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