Boliden to buy Votorantim's 64.7% stake in Nexa Resources
Boliden to buy Votorantim's 64.7% stake in Nexa Resources Aug 27 (Reuters) - Swedish miner Boliden BOL.ST said on Thursday it had agreed to acquire all of Brazilian group Votorantim's shares in zinc and silver producer Nexa Resources NEXA.N, 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 7.0% 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.
(Reporting by Elviira Luoma, editing by Terje Solsvik)
((elviira.luoma@thomsonreuters.com; +48 58 769 66 46;))