April 4, 2008 / 6:20 AM / 11 years ago

UPDATE 1-Umicore sells shareholding in Padaeng

(adds background, information on selling prices)

BRUSSELS, April 4 (Reuters) - Umicore (UMI.BR) is selling its 22 percent shareholding of zinc miner Padaeng Industry (PDI.BK) of Thailand for 30 million euros ($46.88 million) in cash, the company said on Friday.

The company said its agreement to sell the stock gave it a 3 million euro capital gain.

Nyrstar, the world’s largest producer of zinc metal and alloys, also said it had reached agreement to sell its 24.9 percent share of Padaeng for 34 million euros in cash.

Nyrstar said that represented a 16 million euro loss because the shares had a book value of 50 million euros at the end of last year.

Padaeng operates a silicate zinc mine and a smelter in Thailand.

Umicore is a founding shareholder of Nyrstar. (Reporting by David Lawsky; Editing by Paul Bolding)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below