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# Sweden Just Bought a Piece of Brazil
- URL: https://www.theinvestorsociety.com/sweden-just-bought-a-piece-of-brazil/
- Published: 2026-08-28T16:58:37.000Z
- Updated: 2026-08-30T23:51:55.000Z
- Author: Jose Kont
- Tags: The Daily Dealflow

Hi, and welcome to a new edition of [The Daily Dealflow](https://www.theinvestorsociety.com/tag/the-daily-dealflow/) — the 5-minute briefing that gives you clear context on capital flows and market-moving trends across the Americas, from Silicon Valley to Buenos Aires. Let's dive in.

## 🏆 Deal of the Day

Sweden's Boliden agreed to acquire Brazilian conglomerate Votorantim's 64.68% controlling stake in Nexa Resources — the Brazil/Peru zinc and silver producer — for $1.31B in an all-stock deal implying a $2.03B equity value and a $3.67B enterprise value, with a follow-on cash tender offer planned for the remaining minority shares – [Mining.com](https://www.mining.com/bolidens-1-3b-nexa-buy-adds-south-american-zinc-silver/?ref=theinvestorsociety.com).

**Why This?:** The deal reshapes global zinc supply around South American assets and tests whether a European acquirer can cleanly navigate Brazilian and Peruvian tax, regulatory, and minority-shareholder rules — a template every future cross-border Americas mining deal will be measured against.

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/08/aaaa.jpeg)

**Positive Context:**

- The transaction lifts Boliden's zinc output by 62%, copper by 14%, and silver by 64%, and is expected to boost EPS by more than 8% immediately.
- It comes at a 14% premium to Nexa's 20-day volume-weighted average price, with the combined entity generating roughly $14.3B in annual revenue.

**Yes, but:**

- BMO Capital Markets flagged that "meaningful synergies aren't immediately obvious," and Boliden's net debt-to-equity ratio is projected to jump to 33% from 24%.
- Peru requires a mandatory minority tender offer within six months of close, and larger Boliden shareholders face a 30% Peruvian indirect-transfer tax on the deal.

**Zoom in:** Votorantim isn't fully cashing out — it's taking 21.4 million newly issued Boliden shares as payment, making it a roughly 7% shareholder in the company that just bought its mine.

**The comment:** "The transaction will reinforce our standing as a globally important base metal producer and bring a healthy addition to our precious metal business," said Mikael Staffas, President and CEO of Boliden, via [PR Newswire](http://www.prnewswire.com/news-releases/boliden-to-acquire-controlling-stake-in-nexa-resources-302861358.html?ref=theinvestorsociety.com).

## 💰 Venture Capital

TerraBlaster (US) – $12.5M, Seed, IoT soil-nutrition sensor platform giving farmers real-time nutrient-deficit maps to optimize fertilizer use – [FinSMEs](https://www.finsmes.com/2026/08/terrablaster-raises-12-5m-in-seed-funding.html?ref=theinvestorsociety.com).

Levanta (US) – $22M, Series B, creator-affiliate commerce platform managing brand-influencer partnerships and payouts across Amazon, Walmart and Shopify – [Business Insider](https://www.businessinsider.com/levanta-raised-22-million-round-to-grow-social-commerce-network-2026-8?ref=theinvestorsociety.com).

RQD\* Clearing Raises $74 Million From Bain Capital to Push Into Digital Assets - [The Investor Society](https://www.theinvestorsociety.com/rqd-clearing-raises-74-million-from-bain-capital-to-push-into-digital-assets/). 

Cloverleaf AI (US) – $8M, Series A, B2G sales-intelligence platform tracking 70,000+ public-sector agencies for procurement signals ahead of RFPs – [FinSMEs](https://www.finsmes.com/2026/08/cloverleaf-ai-raises-8m-in-series-a-funding.html?ref=theinvestorsociety.com). 

Quaise Energy (US) – $180M, Series B, millimeter-wave drilling technology built to reach superhot geothermal rock for utility-scale power plants – [Yahoo Finance](https://finance.yahoo.com/energy/articles/quaise-energy-closes-180-million-110500307.html?ref=theinvestorsociety.com).

Arga Labs (US) – $10M, Seed, sandbox platform that builds synthetic replicas of enterprise tools like Salesforce and Workday to safely test AI agents before production – [FinSMEs](https://www.finsmes.com/2026/08/arga-labs-raises-10m-in-seed-funding.html?ref=theinvestorsociety.com).

Maglut Heavy Industries (US) – $3.1M, Pre-Seed, chromatography-based refining technology to process raw rare earth elements for domestic electronics and aerospace manufacturers – [Mining Weekly](https://www.miningweekly.com/article/californias-maglut-to-scale-novel-seperation-tech-for-rare-earths-2026-08-27?ref=theinvestorsociety.com).

Hermetiq (US) – $2.2M, Seed, LLM-based platform that detects, diagnoses and proposes fixes for CI/CD build failures in real time – [FinSMEs](https://www.finsmes.com/2026/08/hermetiq-raises-2-2m-in-seed-funding.html?ref=theinvestorsociety.com).

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/08/Screenshot-2026-08-28-at-10.53.41---AM.png)

World’s largest economies in 2020 vs 2026\. Source [investywisebygroww](https://www.instagram.com/investywisebygroww/?ref=theinvestorsociety.com)

## 🏛️ Private Equity

Grainger (US) – $210M, acquisition, MRO/industrial distributor buying AWM's inventory-management technology and IP to expand its B2B distribution platform – [Industrial Distribution](https://www.inddist.com/mergers-acquisitions/news/22973214/grainger-acquires-tech-assets-in-210m-deal?ref=theinvestorsociety.com).

Arrive Logistics (US) – undisclosed amount, majority stake, Austin-based truckload freight brokerage selling a majority stake to Abu Dhabi's Mubadala Capital to fund expansion – [FreightWaves](https://www.freightwaves.com/news/arrive-logistics-plans-1000-hires-after-mubadala-majority-investment?ref=theinvestorsociety.com).

Geary Veterinary Hospital (US) – undisclosed amount, buyout add-on, nearly 50-year-old Walnut Creek veterinary practice acquired by Great Point Partners-backed VetnCare as a platform add-on – [PE Hub](https://www.pehub.com/great-point-backed-vetncare-acquires-geary-veterinary-hospital/?ref=theinvestorsociety.com).

Nexa Resources (Brazil/Peru) – $1.31B, controlling-stake acquisition, Brazil/Peru zinc and silver producer whose 64.68% stake Votorantim is selling to Sweden's Boliden ahead of a minority tender offer – [Mining.com](https://www.mining.com/bolidens-1-3b-nexa-buy-adds-south-american-zinc-silver/?ref=theinvestorsociety.com).

Pfanenstiel Company oil & gas assets (US) – $48M proved PV-10, asset acquisition, non-operated Williston Basin interests across 377 producing wells acquired by Callan Power – [GlobeNewswire](https://www.globenewswire.com/news-release/2026/08/27/3351986/0/en/callan-power-to-acquire-williston-basin-non-operated-oil-and-gas-assets-with-48-million-proved-pv-10-and-83-million-3p-pv-10-from-the-pfanenstiel-company-significantly-expanding-en.html?ref=theinvestorsociety.com).

## 📈 Public & Capital Markets

![](https://storage.ghost.io/c/40/72/4072b0a5-dd13-4755-b3a4-f7b56403df30/content/images/2026/08/Screenshot-2026-08-28-at-10.55.44---AM.png)

Opening Market Figures, Fri 28 Aug, 2026.

Elastic (US) – Q2 CY2026 earnings, revenue of $478.1M (+15.1% YoY) beating estimates, search-and-AI platform built on open-source Elasticsearch for observability and security analytics – [StockStory](https://markets.financialcontent.com/stocks/article/stockstory-2026-8-27-elastics-nyseestc-q2-cy2026-beats-on-revenue-stock-jumps-231?ref=theinvestorsociety.com).

Workday (US) – Q2 FY2027 earnings, revenue of $2.65B (+12.8% YoY) but "lukewarm" results that cooled recent enterprise-software gains, cloud platform for HR, finance and planning – [Bloomberg](https://www.bloomberg.com/news/articles/2026-08-27/workday-posts-lukewarm-results-blunting-recent-software-gains?ref=theinvestorsociety.com).

Best Buy (US) – Q2 FY2026 earnings, revenue of $9.78B beating estimates and a raised full-year outlook, consumer-electronics retailer for appliances, computers and home-office gear – [StockStory](https://markets.financialcontent.com/stocks/article/stockstory-2026-8-27-best-buys-nysebby-q2-cy2026-sales-beat-estimates-full-year-outlook-slightly-exceeds-expectations?ref=theinvestorsociety.com).

Affirm Holdings (US) – Q4 FY2026 earnings, revenue of $1.17B and card volume up 146% YoY to $2.13B across 4.4M active cardholders, buy-now-pay-later fintech offering pay-over-time checkout financing – [Investing.com](https://www.investing.com/equities/affirm-holdings-earnings?ref=theinvestorsociety.com).

Ulta Beauty (US) – Q2 FY2026 earnings, revenue of $3.04B (+8.9% YoY), retailer of prestige and mass-market makeup, skincare and fragrance – [StockStory](https://markets.financialcontent.com/stocks/article/stockstory-2026-8-27-ulta-nasdaqulta-posts-better-than-expected-sales-in-q2-cy2026?ref=theinvestorsociety.com).

Exascale Labs Holdings (US) – SPAC merger, San Francisco-based GPU-as-a-service and modular data-center platform for AI compute began trading on Nasdaq as "XLAB" after closing its combination with D. Boral ARC Acquisition I Corp – [GlobeNewswire](https://www.globenewswire.com/news-release/2026/08/27/3352412/0/en/Exascale-Labs-Holdings-Inc-Announces-Closing-of-Business-Combination-with-D-Boral-ARC-Acquisition-I-Corp-and-Commencement-of-Trading-on-Nasdaq-Under-Ticker-Symbol-XLAB.html?ref=theinvestorsociety.com).

## 📅 ICYMI

On this day in 2009, Apple released Mac OS X 10.6 "Snow Leopard" — an unusually feature-light major OS update pitched purely as a performance and stability overhaul, and the first Mac release to drop PowerPC support entirely – [Wikipedia](https://en.wikipedia.org/wiki/Mac%5FOS%5FX%5FSnow%5FLeopard?ref=theinvestorsociety.com).

Turns out the "genius in a garage" is mostly myth: a study of 2.7 million company founders found the average founder age at founding is 42, and among the fastest-growing 0.1% of startups, founders averaged 45 – [Harvard Business Review](https://hbr.org/2018/07/research-the-average-age-of-a-successful-startup-founder-is-45?ref=theinvestorsociety.com).

ChatGPT hit 100 million monthly users just two months after launch, a ramp UBS analysts called the fastest they'd seen in 20 years of covering internet apps — TikTok took about nine months and Instagram roughly two and a half years to reach the same mark – [Yahoo Finance](https://finance.yahoo.com/news/chatgpt-sets-record-fastest-growing-190911828.html?ref=theinvestorsociety.com).

The internet's first-ever banner ad, AT&T's 1994 "You Will" campaign on HotWired.com, reportedly pulled a 44% click-through rate — a number today's advertisers can only dream of, with modern display ads typically running under 1% – [Digiday](https://digiday.com/marketing/how-the-banner-ad-was-born/?ref=theinvestorsociety.com).

*See you on monday,*

[***Jose Kont***](https://www.linkedin.com/in/jose-kont/?ref=theinvestorsociety.com)  
*The human behind The Investor Society.*

*Submit a deal for The Daily Dealflow newsletter via DM* [*here on LinkedIn*](https://www.linkedin.com/company/theinvestorsociety/?ref=theinvestorsociety.com)*.*