Bloomberg Línea reports on our recent acquisition: “After the Public Tender Offer on Mineros, Indian Vikram Sodhi controls 56.85% of the company”

The offer concluded with over 77.9 million valid acceptances. Sun Valley will pay more than COP$428 billion.

Bloomberg Línea — Sun Valley Investments AG announced the completion of the acceptance period for its previously announced enhanced public offer to purchase ordinary shares of Mineros S.A., giving it control of 56.85% of the company.

The offer was made through the Colombian Stock Exchange at a price of COP$5,500 per ordinary share, equivalent to approximately CAD$1.92.

According to bulletin No. 053 issued by the Colombian Stock Exchange, acceptances were received for a total of 118,921,827 ordinary shares (surpassing the maximum number of shares included in the offer), of which 77,931,725 are valid acceptances to be assigned to Sun Valley.

The total consideration Sun Valley will pay for the 77,931,725 shares is COP$428,624 million, equivalent to approximately CAD$149.6 million as of the announcement date of the Enhanced Public Tender Offer.

Vikram Sodhi, Managing Partner of Sun Valley Investments, stated: “We are pleased to allocate additional funds to our successful investment in Mineros S.A. The positive outcome of our latest public acquisition offer reaffirms our commitment to supporting Mineros’ operations in Antioquia, Colombia, Bonanza, Nicaragua, and throughout Latin America. We remain dedicated to continuing vital environmental and social programs, alongside community engagement initiatives that have contributed to the strong results reported in the company’s 2024 performance. Our goal is to foster growth and sustainable opportunities in Colombia and Nicaragua’s largely unexplored gold mining sectors, as well as in the broader region.”

Immediately before the Public Tender Offer, Sun Valley held and exercised control over 92,477,823 ordinary shares, representing 30.85% of the company. After the OPA’s settlement, expected to occur on March 25, 2025, Sun Valley will own and exercise control over 170,409,548 shares, representing approximately 56.85% of the company. Sun Valley will retain its ordinary shares for investment purposes and will continually assess its investment in Mineros, with the potential to increase or decrease its stake in the company and engage with it in other ways in the future, subject to market conditions and other relevant factors.

Read the original article in Bloomberg Línea published on March 20, 2025: Click here.