Glencore, one of the world’s largest diversified and vertically-integrated commodity producers, processors and traders, has been advised on the acquisition of Volcan Compañía Minera S.A.A. by Peruvian law firm Rebaza, Alcázar & De las Casas.
Established in 1943, Peruvian company Volcan is a major producer of zinc, lead and silver. Its operations are located in Peruvian Andean mountains and it has a total of ten mines, seven concentrator plants and one rust-leaching plant.
Glencore has been Volcan’s shareholder for 13 years, and owns 18.11% of it’s voting stock. In order to make the acquisition easier, Glencore entered into an agreement with certain shareholders to purchase their shares for a total of $531m ($1.215/share).
Additionally, Glencore intends to make a public offering to all Volcan’s shareholders through a public tender offer subject to Peruvian laws and regulations, no later than October 27th.
Rebaza, Alcázar & De las Casas served as legal counsel on the transaction with a team led by partners Alberto Rebaza, Rafael Alcázar, Gonzalo de las Casas, Luis Miguel Elías and assisted by its senior associates Pedro Díaz, Ricardo Cárdenas and Maite Colmenter; and Associates María Fernanda Gadea and Bettina Gorra.