off-the-wire

Brazil’s Votorantim close to selling controlling stake in Nexa Resources

Kitco Media
By Reuters
Published:
Updated:
Reuters
Brazil’s Votorantim close to selling controlling stake in Nexa Resources teaser image

Brazilian conglomerate Votorantim is close to finalizing a deal to sell its controlling stake in zinc producer Nexa Resources for some 7 billion reais ($1.41 billion), local newspaper Estadao reported on Monday, citing sources close to the talks.

Estadao said that Votorantim was in direct negotiations to sell its 64.7% stake to a European company, without naming the potential buyer. Nexa Resources, which is one of the world’s largest producers of zinc, has operations in Brazil and Peru.

($1 = 4.9751 reais)

(By Fernando Cardoso)

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