Votorantim to Sell Nexa Resources to Boliden

Cleary Gottlieb is representing Votorantim SA (VSA) in the sale of its controlling equity interest in Nexa Resources (Nexa) to Boliden AB (Boliden).

Under the terms of the transaction agreement, VSA will become one of Boliden’s main shareholders and is expected to have representation on its board of directors, subject to customary corporate and other applicable approvals. The completion of the transaction is subject to the satisfaction of customary closing conditions, including approval by Boliden’s shareholders and the receipt of the applicable antitrust and regulatory approvals.

VSA is one of Latin America’s largest investment holding companies, and the transaction is aligned with VSA’s strategy of active portfolio management and value creation.

Nexa is a Peruvian mining company of regional scale dedicated to the exploration, extraction, processing, and commercialization of zinc, copper, and lead concentrates with contents of silver and gold, and is currently one of the main polymetallic producers in Peru.

Boliden is a Swedish metals and mining company with more than 100 years of history and approximately 8,000 employees. The company operates on an integrated basis across the mining and smelting segments, has 12 operations in Sweden, Finland, Norway, Portugal, and Ireland, and produces zinc, copper, nickel, lead, gold, and silver.

The Cleary team includes partners Juan Giraldez and Aaron Meyers, senior attorney Isa Julson Barahona, associate Simone Marcon, and international lawyer Julia C. G. Ferreira. Partners Christopher Cook and Jeremy Calsyn and associate Julia Beggs advised on antitrust matters. Partners Chase Kaniecki and Samuel Chang and associate Ana Carolina Maloney advised on foreign direct investment matters.