Boliden AB agreed to acquire Votorantim S.A.’s 64.68% stake in Nexa Resources. The deal is valued at approximately SEK 12.5 billion ($1.31 billion). The acquisition establishes Boliden as a leading global zinc producer and expands its operations into Brazil and Peru. The deal also boosts Boliden’s precious metals business through increased silver output.
Votorantim will receive 0.250 newly issued Boliden shares for each Nexa share. The transaction implies a value of $15.29 per Nexa share. Votorantim will hold approximately 7.0% of Boliden’s total shares following the deal.
The companies expect to close the transaction in the first quarter of 2027. The deal remains subject to shareholder and regulatory approvals. Boliden plans to launch a voluntary tender offer for the remaining Nexa shares after closing.