Minera Valparaíso, the Matte Group's holding company, auctioned off 100% of its shares in Molymet on Friday, totaling 11.410.856 shares or nearly 10% of the company. The sale occurred at $10.250 per share via Banchile Corredores de Bolsa, raising US$149 million.
The Matte Group, through its subsidiaries Minera Valparaíso and Forestal, Constructora y Comercial del Pacífico Sur, notified the Comisión para el Mercado Financiero (CMF) of the auction of its shares in Molibdenos y Metales S.A. (Molymet). The transaction took place on Friday at 10:30 a.m. and covered 11.410.856 shares, representing 100% of its stake or nearly 10% of the total share capital. The filings stated, “the sale price of Molymet shares was $10.250 per share.” At the time, shares traded at $10.827 on the Santiago Stock Exchange, yielding US$149 million for the group. “At this stage it is not possible, for now, to quantify the effects this Material Event might have on the results of the company and its affiliate,” the essential facts submitted to the CMF noted. Molymet, established in 1975, processes molybdenum and rhenium for industries including steelmaking, aerospace, energy, medical, and semiconductors. It operates facilities in Chile, Mexico, Germany, Belgium, and the United States, with sales offices in Asia and other markets. Prior to the Matte Group's exit, ownership was held mainly by five groups: the Gianoli, Plansee, and Mustakis families, and the Mattes.
