Hernández & Cía. Abogados has locally advised minority shareholders of Compañía Minera Milpo S.A.A. (“Milpo”), in the transfer of their 20.17% stake of shares of Milpo, one of the most important Peruvian polymetallic miner, in favor of Votorantim Metais – Cajamarquilla S.A.
Such acquisition was carried out through the Lima Stock Exchange (Bolsa de Valores de Lima) and allowed Votorantim Metais – Cajamarquilla S.A. to raise its controlling stake in Milpo from 60.07% to 80.24%.
The transaction involved the purchase by Votorantim Metais – Cajamarquilla S.A. of a total amount of 264´157,507 common Milpo´s shares for a trade price of S/. 2.18 per share, generating an overall paid price of S/.579 million (US$ 177 million), approximately.
The transaction was closed on April 12th, 2016