Sweden's Boliden to Acquire 64.68% Stake in Nexa Resources by 2027

en.Wedoany.com Reported - Nexa Resources S.A. and Boliden AB have signed a definitive agreement to sell a controlling stake in Nexa to the latter. Upon completion of the transaction, control of Nexa will be transferred to Boliden, subject to applicable corporate and regulatory approvals.

Under the terms of the agreement, Votorantim will transfer its shares in Nexa to Boliden through a share exchange, with each common share of Nexa corresponding to 0.250 newly issued common shares of Boliden. If the transaction is successfully completed, Boliden will hold 64.68% of Nexa's total shares and voting rights, becoming the controlling shareholder; Votorantim is expected to hold approximately 7% of Boliden's total shares and voting rights. Votorantim will be entitled to nominate one representative to stand for election to Boliden's Board of Directors, subject to the terms of the transaction agreement and the required approvals under Swedish foreign direct investment regulations. The transaction is expected to close in the first quarter of 2027, subject to customary conditions, including approval by Boliden's shareholders, approval of the new Board of Directors by Nexa's shareholders, and receipt of the relevant regulatory approvals.

Ignacio Rosado, CEO of Nexa, stated that this proposed transaction gives Nexa the opportunity to become part of a company with extensive experience and a proven track record in mining and smelting, and to collaborate with a global mining and metallurgy group with highly complementary operations. He emphasized that, as the transaction progresses, Nexa will continue to operate its assets in Brazil and Peru to the highest standards, prioritizing safety, operational excellence, sustainability, innovation, and responsible production, while continuing to build a robust company oriented toward shared commitment and long-term value creation.

Following the closing of the transaction, Boliden will also launch mandatory tender offers (OPA) for the remaining shares of certain Nexa subsidiaries listed in Peru, as required by applicable Peruvian regulations. The price of the mandatory tender offers will be determined in accordance with applicable Peruvian law, and Boliden expects these offers to be launched within six months after closing.