Sun Valley Investments AG Announces Agreement to Purchase Shares of Mineros S.A.
TORONTO--(BUSINESS WIRE)-- Sun Valley Investments AG (' Sun Valley ') announces that it has entered into a share purchase agreement (the ' Agreement ') with Corporación Financiera Colombiana S.A. (' Corficolombiana ') to purchase 23,850,263 common shares (the ' Acquired Shares ') of Mineros S.A. (' Mineros ', TSX: MSA, CB: MINEROS), which represent approximately 7.96% of Mineros' issued and outstanding common shares. The Agreement contemplates that the Acquired Shares may be purchased through a variety of purchase mechanisms including tender offers in Colombia and private secondary market transactions in Canada. Sun Valley will pay 5,500 Colombian pesos per Acquired Share.
Sun Valley currently owns 172,122,705 shares of Mineros, which are valued at CAD $ 421,700,627 as of the closing price of Mineros shares on the Toronto Stock Exchange (' TSX ') yesterday and comprise a participation of approximately 57.42 % of Mineros issued and outstanding common shares. Upon closing of the Agreement, and subject to prior satisfaction of conditions precedent, Sun Valley expects to own a total participation of approximately 65.38 % of Mineros' issued and outstanding common shares which would be valued at approximately CAD $ 480,133,772 as of the closing price of Mineros shares on the TSX yesterday. The Agreement is binding on both parties, obligating Corficolombiana to sell exclusively to Sun Valley and Sun Valley to purchase the Acquired Shares under the terms set forth therein.
A more detailed description of the purchases contemplated by the Agreement, will be provided if the preliminary approvals required to purchase the Acquired Shares are obtained.
Dentons Cardenas & Cardenas Abogados S.A.S (Colombia) and Dentons Canada LLP have acted as legal advisors to Sun Valley in connection with the Offer.
About Sun Valley
Sun Valley is a private investment firm focused on the metals and mining industry with portfolio companies and branch offices in the Americas, Europe and Asia. Sun Valley's senior leadership team has several decades of experience in mining and investment companies and combines investment skills across diverse asset classes with hands-on experience at both senior and junior companies in the precious metals mining and refining industry. The firm finances the entire precious metals supply chain: mineral exploration, mine construction, production, processing and refining.
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