Boliden to acquire controlling stake in Nexa Resources

Boliden AB (Boliden) and Votorantim S.A. (Votorantim) have entered into a definitive agreement pursuant to which Boliden will acquire all of Votorantim’s shares in Nexa Resources S.A. (Nexa), in exchange for newly issued Boliden shares, resulting in Boliden becoming owner of 64.68% of the total number of shares and votes in Nexa, and Votorantim becoming owner of 7.0% of the total number of shares and votes in Boliden.

The total implied consideration for the transaction is USD 1,310 million. In connection with the transaction, Boliden has secured a fully committed bridge financing facility totalling USD 2.0 billion.

Closing of the transaction is subject to certain conditions, including approval by Boliden’s shareholders at an extraordinary general meeting and receipt of regulatory approvals.

Nexa is a zinc and silver producer with operations in Brazil and Peru, whose shares are listed on the New York Stock Exchange. Votorantim is one of Latin America’s largest investment holding companies.

Mannheimer Swartling advises Boliden as to Swedish law in connection with the transaction and the entering into the bridge financing facility. The firm’s team primarily consists of Emil Boström, Victor Karlsson, Thomas D. Pettersson, Charlotte Demegård, Erik Gustafsson, Max Karlsson, Rasmus Ringström, Simon Larsson, Julia Asp and Moa Mellgren.