login
login
Image header Agence Europe
Europe Daily Bulletin No. 7881
Contents Publication in full By article 36 / 47
ECONOMIC INTERPENETRATION / (eu) metals

The Swiss multinational XSTRATA, specialised in the exploitation of natural resources, launched a public tender offering for EUR 550 million on 100% of the capital of the Spanish company AZSA - ASTURIANA DE ZINC, corresponding to EUR 13.3 per share. The success of the operation, which requires the minimum acquisition of 80% is practically assured: the Swiss GLENCORE, holder of 44.4% in AZSA, will sell its stake to XSTRATA which also holds 39.5% of the capital. The other shareholders of the Spanish group are ROYAL BANK OF SCOTLAND (9.57%), CREDIT SUISSE FIRST BOSTON (5.13%), the remainder being held by small investors. Thanks to this operation, AZSA will increase its production capacity for zinc by 37% to 450,000 tonnes per year while its turnover will rise from EUR 360 to 600 million. Thus it will become the world's second largest in zinc behind the Australian PASMINCO.

Contents

THE DAY IN POLITICS
GENERAL NEWS
TEXTS OF THE WEEK
ECONOMIC INTERPENETRATION
WEEKLY SUPPLEMENT