Vale will offer $1.1bn for refined Cu producer Paranapanema

São Paulo 30 July 2010 15:24

Vale will launch a $1.13 billion public offer to acquire up to 100% of Paranapanema, Brazil’s largest producer of refined copper and the country’s sole producer of London Metal Exchange-certified copper cathode, it said on Thursday. The Brazilian diversified miner will offer to buy all of Paranapanema’s shares for 6.3 Reais per share, valuing the deal at 2.01 billion Reais ($1.13 billion), the company said. The deal would represent a premium of 22.3% to the last 90 days volume-weighted average of the closing prices of Paranapanema shares, and...

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Vale will offer $1.1bn for refined Cu producer Paranapanema

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