Boliden to Acquire Controlling Stake in Nexa for $1.31 Billion

Boliden AB will acquire a 64.68% controlling stake in Nexa, a zinc producer with operations in Brazil and Peru, in a transaction valued at $1.31 billion. Under the agreement, Votorantim will receive newly issued Boliden shares, granting it an ownership stake of approximately 7% in the Swedish mining firm.

The deal values Nexa at $15.29 per share, which is a 14% premium over the 20-day weighted average price as of July 1. Boliden has secured a $2 billion bridge financing facility to fund the acquisition and a potential voluntary tender offer for the remaining shares. The company expects the move to be immediately accretive to earnings.

Chief Executive Officer Mikael Staffas stated the transaction will reinforce the company's standing as a globally important base metal producer and add to its precious metal business. The acquisition is expected to close in the first quarter of 2027, pending shareholder and regulatory approvals.