Glencore refers to its announcement of 3 October 2017, in which it announced that it intended to make an offer to all of Volcan's shareholders via a public tender offer or oferta pública de adquisición de acciones subject to the laws and regulations of the Republic of Peru for up to 48.19% of the total class A common shares of Volcan at an offer consideration of US$1.215 per class A common share ("Offer").
The Offer has now closed. Shareholders have accepted the Offer in respect of 603 million class A common shares representing 36.92% of the class A common shares.
Glencore now holds 55.03% of the total class A common shares (62.96% of the class A common shares excluding treasury shares) and will have an economic interest in Volcan of 23.29% (including the class B common shares and excluding treasury shares).
The aggregate consideration payable by Glencore pursuant to the terms of the Offer is US$734 million.