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.