Votorantim raises its stake in Peru miner Milpo

martes 12 de abril de 2016 17:50 GYT

LIMA, April 12 (Reuters) - Brazil-based Votorantim Industrial SA raised its stake in the Peruvian polymetallic miner Milpo to 80.24 percent from 60.07 percent in a 579 million sole ($177 million) acquisition of shares, the company said on Tuesday.

Votorantim, Brazil's largest diversified industrial conglomerate, paid 2.18 soles a share in the transaction. Milpos's share price fell 0.86 percent on Lima's stock market afterward.

Milpo is a major producer of zinc and lead.

Votorantim has been taking steps to reduce debt and expand outside Brazil to keep up profitability levels, its chief executive said last week.

($1=3.268 soles)

(Reporting by Ursula Scollo; Editing by Peter Cooney)