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Article: Peru : Votorantim secures 35% of Milpo with new share purchases.
- Article from:
- TendersInfo
- Article date:
- August 25, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: pinto03
Brazil's Votorantim Metais has increased its stake in Peruvian miner Milpo to roughly 35% following two large rounds of share purchases in recent days, a representative with Milpo told BNamericas Friday.
On August 20 the Brazilian company added some 18.7mn shares to its ownership in Milpo, equal to 2.08% of the Peruvian, at a total price of nearly 164mn soles (US$55.9mn) or 8.75 soles/share.
Votorantim also bought 51.6mn shares equal to 5.75% of the company at 7.40 soles/share, or 389mn soles, on August 18, according to a statement by Milpo to securities regulator Conasev.
The Brazilian has been reportedly trying to take ...