Glencore PLC Glencore completes acquisition of Volcan shares (2438W)
13 November 2017 - 6:00PM
UK Regulatory
TIDMGLEN
RNS Number : 2438W
Glencore PLC
13 November 2017
Glencore plc
Baar, Switzerland
13 November, 2017
Glencore completes acquisition of voting shares of Volcan
Compañia Minera S.A.A.
Glencore refers to its announcement of 3 October 2017, in which
it announced that it intended to make an offer to all of Volcan's
shareholders via a public tender offer or oferta pública de
adquisición de acciones subject to the laws and regulations of the
Republic of Peru for up to 48.19% of the total class A common
shares of Volcan at an offer consideration of US$1.215 per class A
common share ("Offer").
The Offer has now closed. Shareholders have accepted the Offer
in respect of 603 million class A common shares representing 36.92%
of the class A common shares
Glencore now holds 55.03% of the total class A common shares
(62.96% of the class A common shares excluding treasury shares) and
will have an economic interest in Volcan of 23.29% (including the
class B common shares and excluding treasury shares).
The aggregate consideration payable by Glencore pursuant to the
terms of the Offer is US$734 million.
For further information please contact:
Investors
Martin Fewings t: +41 41 m: +41 79 martin.fewings@glencore.com
709 2880 737 5642
Ash Lazenby t: +41 41 m: +41 79 ash.lazenby@glencore.com
709 2714 543 3804
Media
Charles Watenphul t: +41 41 m: +41 79 charles.watenphul@glencore.com
709 2462 904 3320
www.glencore.com
Additional information
Volcan
Volcan is a polymetallic mining company incorporated under the
laws of Peru and is a significant producer of zinc, lead and
silver.
Volcan began operations in 1943 at the heights of the Ticlio
Pass. All operations are located in the central mountains of the
Peruvian Andes and include the operating units, Yauli, Chungar,
Alpamarca and Cerro de Pasco. These four operating units include a
total of 10 mines, seven concentrator plants and one oxides
leaching plant.
The gross assets of Volcan, as shown in Volcan's latest
published audited accounts for the year ended 31 December 2016, are
US$2,685 billion. The profits attributable to Volcan (being profits
before tax), as shown in Volcan's latest published audited accounts
for the year ended 31 December 2016, are US$133 million.
Volcan's assets are located in the richest polymetallic
production area in Peru.
Volcan has two classes of shares class A common shares (voting
shares) and class B common shares (non-voting shares). The class A
common shares represent 40.07% of the total number of shares.
Volcan currently hold in treasury 206 million class A common shares
(representing 12.60% of the total issued class A share capital
including treasury shares) and 12 million class B common shares
(representing 0.50% of the total issued class B share capital
including treasury shares) via wholly-owned subsidiaries.
Glencore
Glencore is one of the world's largest global diversified
natural resource companies and a major producer and marketer of
more than 90 commodities. The Group's operations comprise around
150 mining and metallurgical sites, oil production assets and
agricultural facilities.
With a strong footprint in both established and emerging regions
for natural resources, Glencore's industrial and marketing
activities are supported by a global network of more than 90
offices located in over 50 countries.
Glencore's customers are industrial consumers, such as those in
the automotive, steel, power generation, oil and food processing
sectors. We also provide financing, logistics and other services to
producers and consumers of commodities. Glencore's companies employ
around 155,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on
Security and Human Rights and the International Council on Mining
and Metals. We are an active participant in the Extractive
Industries Transparency Initiative.
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Disclaimer
The companies in which Glencore plc directly and indirectly has
an interest are separate and distinct legal entities. In this
document, "Glencore", "Glencore group" and "Group" are used for
convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for
ease of reference only and do not imply any other relationship
between the companies. Likewise, the words "we", "us" and "our" are
also used to refer collectively to members of the Group or to those
who work for them. These expressions are also used where no useful
purpose is served by identifying the particular company or
companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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