Swedish mining group Boliden AB agreed to acquire Votorantim SA's stake in Nexa Resources SA, taking control of the zinc and silver producer. The transaction, valued at $1.31 billion, expands Boliden's operations into Brazil and Peru. Votorantim will receive newly issued Boliden shares, giving it approximately 7% of the Swedish company.

Boliden will own 64.68% of Nexa's shares and votes. The exchange ratio values the consideration at $15.29 a Nexa share, representing a 14% premium to the last unaffected trading day. The deal was announced Thursday via a Bloomberg Terminal statement.