Swedish miner Boliden said on Thursday it had agreed to acquire all of Brazilian group Votorantim‘s shares in zinc and silver producer Nexa Resources, giving it a 64.68% stake, and will bid for the rest of the company.
Under the deal, Votorantim will receive newly issued Boliden shares for its Nexa shares.
The transaction will leave Boliden with 64.68% of Nexa and give Votorantim about 7% of Boliden.
Boliden CEO Mikael Staffas said in a statement the deal would strengthen Boliden‘s base metals business and boost silver output.
Following closing, Boliden has agreed with Nexa to launch a voluntary cash tender offer to purchase any Nexa shares not acquired through the transaction.