Merger News

Boliden and Outokumpu swap assets

Scandinavian-based Boliden and Outokumpu have completed the transaction whereby Boliden acquires Outokumpu’s zinc and copper mining and smelting operations, and sells its fabrication and technology sales operations to Outokumpu. New Boliden becomes one of the world-leading mining and smelting companies for zinc and copper.

As consideration for the Outokumpu assets, Boliden issued new shares in kind to Outokumpu, corresponding to 49% of all shares in New Boliden, a cash payment of EUR 373 million and a subordinated debenture with an estimated value of EUR 137 million.

As a payment for the fabrication and technology sales operations that Outokumpu acquired from Boliden, Outokumpu issued 5,000,000 new shares in Outokumpu Oyj. Boliden now owns 2.8% of all the shares in Outokumpu.