$8.2 Billion Sweden Metals Giant Boliden to Buy Lundin Mining 2 Zinc & Copper Mines in Portugal & Sweden for $1.52 Billion Including Contingent Payments
12th December 2024 | Hong Kong
Sweden metals giant Boliden ($8.2 billion market value) has announced to buy Lundin Mining 2 zinc & copper mines in Portugal & Sweden for $1.52 billion including contingent payments. Boliden (9/12/24): “Boliden has entered into a definitive agreement with Lundin Mining to acquire the Neves-Corvo mine in Portugal and the Zinkgruvan mine in Sweden. The upfront cash consideration for the entities is USD 1,300 m plus contingent payments that can reach up to USD 150 m, on a cash and debt-free basis. The transaction, that considerably strengthens Boliden ́s mine production as well as internal zinc and copper concentrate supply, is subject to customary regulatory approvals.” Lundin Mining (9/12/24): “Lundin Mining Corporation (“Lundin Mining” or the “Company”) announces today it has signed a definitive agreement to sell its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden AB (OM: BOL) (“Boliden”) for up to $1.52 billion in total consideration (the “Transaction”). Unless otherwise stated, all numbers are presented in United States dollars. Under the terms of the agreement, Lundin Mining will receive upfront cash consideration of $1.37 billion upon closing, based on a cash-free and debt-free enterprise value of $1.3 billion as of an August 31, 2024 lock box date (“Lock-Box”). In addition, Lundin Mining will receive up to $150 million in contingent cash consideration upon satisfaction of certain conditions outlined below. The Transaction is not subject to shareholder approval or any financing conditions. The proceeds from the Transaction will strengthen the Company’s balance sheet and support its growth plans in the Vicuña District.” Lundin Mining – Lundin Mining is a diversified Canadian base metals mining company with operations or projects in Argentina, Brazil, Chile, Portugal, Sweden and the United States of America, primarily producing copper, zinc, gold and nickel.
“ $8.2 Billion Sweden Metals Giant Boliden to Buy Lundin Mining 2 Zinc & Copper Mines in Portugal & Sweden for $1.52 Billion Including Contingent Payments “
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$8.2 Billion Sweden Metals Giant Boliden to Buy Lundin Mining 2 Zinc & Copper Mines in Portugal & Sweden for $1.52 Billion Including Contingent Payments
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