Investor Presentaiton
The provisional amounts of assets and liabilities recognized as a result of
the acquisition are:
Recognized amounts of identifiable assets and assumed liabilities
Cash and cash equivalents
Trade receivables
Inventory
Prepaid expenses and other assets
PP&E
(p) Loan agreement with National Bank for Economic and Social
Development (BNDES) - Nexa
In July 2020, the subsidiary Nexa contracted a loan approved by BNDES
and, during the second quarter of 2021, it made disbursements of the
following amounts:
(i) On May 28, 2021, the amount of R$ 160 (approximately USD 31 million)
was used;
(ii) On June 18, 2021, the amount of R$101 (approximately USD 20 million)
was used.
31
257
218
Deferred taxes and other (i)
23
588
3,152
Intangible assets.
Right of use on lease agreements
285
788
Borrowing
(733)
Lease liabilities
(788)
Trade payables
Other finance liabilities
Acquired identifiable net assets
Gain on acquisition of investments
(324)
(265)
Of the total R$ 750 approved by BNDES, the subsidiary Nexa has already
used R$ 736 (approximately USD 140 million).
3,232
=
Total assets and liabilities
(243)
2,989
The price paid for the acquisition totaled R$ 2,827 and, upon application of
the acquisition method in accordance with International Financial Reporting
Standard (IFRS) 3 / CPC 15 (R1) - Business Combination, the net assets and
liabilities acquired totaled R$ 3,232, generating a gain on bargain purchase
in the amount of R$ 243, recorded under Other operating income (expen-
ses), net (Note 30).
As indicated in CPC 15 (R1) / IFRS 3 - Business Combination, the Company
has 12 months to fulfill the purchase price allocation (PPA) of the acquired
assets and liabilities and complete the initial accounting for the acquisition.
The fair value balances above are presented as provisional until the PPA
works are completed.
This contract is guaranteed by Nexa Recursos Minerais S.A. (Nexa BR) and
Nexa and was contracted at a cost of Long Term Rates (TLP) + 3.39%,
maturing in 2040. The resources are being used to finance the Aripuanã
project.
(q) Public Offering of Shares
CBA
On June 29, 2021, the subsidiary CBA announced its initial public offering
and began trading its shares on the São Paulo Stock Exchange, under the
ticker name CBAV3.
On July 15, 2021, CBA announced the closing of its primary distribution
public offering with the issuance of 62,500,000 common shares at a price
of R$ 11.20 per share, and as a result CBA's net equity increased by R$ 657,
net of transaction costs. As a result of this issue, the interest was diluted
from 100% to 89.51%, resulting in a gain of R$ 214 in VSA.
On July 15, 2021, the Company also negotiated a secondary distribution
public offering of 62,500,000 of the shares held in CBA, with a net gain of
R$ 270.
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