BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Boliden AB (BLS.TO, BOL.TO, BOL.ST) and Votorantim S.A. have entered into a definitive agreement pursuant to which Boliden will acquire all of Votorantim's shares in Nexa Resources S.A. Votorantim will receive 0.250x newly issued Boliden shares for each of its Nexa shares resulting in Boliden becoming owner of 64.68% of the total number of shares and votes in Nexa, and Votorantim becoming owner of approximately 7.0% of the total number of shares and votes in Boliden. Following closing, Boliden has agreed with Nexa to launch a voluntary tender offer to purchase for cash any Nexa shares not acquired through the transaction. Boliden will become the majority shareholder in Nexa. Nexa will be fully consolidated in Boliden's financial statements from closing.
The transaction implies a total equity value of Nexa of approximately $2.025 billion and an enterprise value of approximately $3.666 billion, on a 100% basis. The transaction is expected to be immediately accretive to Boliden's earnings per share and contributes above 8% to EPS.
At last close on Nasdaq Stockholm exchange, Boliden AB shares were trading at 583.40 Swedish kronor.
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