October 19, 2018 / 5:02 PM / a month ago

Waterton to call special shareholder meeting of Hudbay Minerals

Oct 19 (Reuters) - Private equity firm Waterton Global Resource Management Inc said on Friday it intends to call a special shareholder meeting of Canada’s Hudbay Minerals Inc after the miner refused its proposal for board changes.

Waterton, which said it owns about 7 percent stake in Hudbay, had also asked the miner to avoid any near-term acquisition or joint venture in a filing on Oct. 17.

According to media reports here, Hudbay is in talks to buy Chilean miner Mantos Copper SA.

“Hudbay’s recent market performance has been atrocious, as the company currently trades at a material discount to its peer group on multiple key valuation metrics,” Waterton said in a statement.

The company’s shares were down 2.6 pct at C$5.67.

Reporting by Debroop Roy in Bengaluru; Editing by Arun Koyyur

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