La República Reports: “The Colombian Superintendent of Finance Admits New Public Tender Offer by Sun Valley Investments for up to 11% of Mineros”

The Canadian fund announced an agreement with Corficolombiana to acquire its 7.96% stake in the company’s shareholding structure.

The Colombian Superintendent of Finance (SFC) on Tuesday admitted a new Public Tender Offer (PTO) from Sun Valley Investments, this time for up to 11% of Mineros.

“The purchase price for each common share of the Issuer will be COP $5,500, payable in cash and in Colombian pesos or United States dollars. The PTO is made to acquire a minimum quantity of shares equivalent to 8% and a maximum quantity equivalent to 11%,” states the SFC report.

This value represents an offer 24% lower than the last price recorded on the Colombian Stock Exchange (BVC) of COP $7,210, according to a preliminary analysis by Acciones y Valores.

“In compliance with the foregoing instruction, BVC has proceeded to suspend the negotiation of the Mineros stock, which will be effective in the spot market, starting from May 27, 2025, and until the business day following the publication of the offer notice by the offeror of the PTO, in accordance with the provisions of paragraph 2 of article 6.15.2.1.6 of Decree 2555 of 2010,” the local stock market informed in a note.

It is important to highlight that, with this new operation, Sun Valley intends to expand its controlling stake in the mining company, following this year’s exercises that consolidated it as the largest shareholder with 56.85% of the share capital.

In fact, the Canadian fund confirmed an agreement with Corficolombiana to acquire 23,850,263 ordinary shares of Mineros, which represent approximately 7.96% of the issued and outstanding common shares. “Upon closing of the agreement, and subject to the prior satisfaction of precedent conditions, Sun Valley expects to have a total stake of approximately 65.38% of the issued and outstanding common shares of Mineros,” the fund stated in a press release.

Read the original article in La República published on May 27, 2025: Click here.