Under the terms of the transaction, Votorantim will receive 0.250 newly issued Boliden shares for each Nexa share held, resulting in the Brazilian holding company taking an approximately 7% stake in Boliden. The move is designed to scale Boliden’s base metal operations and improve its precious metal output. Boliden CEO Mikael Staffas stated that the partnership provides a platform for long-term growth in the prolific mining jurisdictions of Brazil and Peru.

Following the expected close of the deal in the first quarter of 2027, Boliden plans to launch a voluntary tender offer for the remaining Nexa shares held by minority investors. The transaction is projected to be immediately accretive to earnings per share. Boliden has secured a USD 2 billion bridge financing facility to support the acquisition and subsequent tender offers, while Votorantim has agreed to lock-up restrictions on a portion of its new Boliden shares and will secure representation on the Boliden Board of Directors.