Compañía de Minas Buenaventura is acquiring an additional 1.5% stake in Sociedad Minera El Brocal, increasing its ownership to approximately 62.96% for a maximum investment of S/ 30.4 million.

Target Company Overview

Compañía de Minas Buenaventura has announced a significant move to acquire additional shares in Sociedad Minera El Brocal. Currently, Buenaventura holds a controlling stake of approximately 61.4% in the company and aims to purchase up to 1.5% of the outstanding common shares. This transaction is being conducted at a price of S/ 13 per share, facilitated by Credicorp Capital Sociedad Agente de Bolsa.

This acquisition involves approximately 2.34 million shares, based on the 155,971,426 total common shares reported by the Lima Stock Exchange (BVL). The total investment required for this purchase could reach up to S/ 30.4 million. With this purchase, Buenaventura's ownership in El Brocal would increase to approximately 62.96%.

Industry Overview in Peru

The mining industry in Peru plays a crucial role in the country's economy, contributing significantly to both GDP and employment. With a wealth of mineral resources, Peru is one of th