May 18, 2018 |
Tianqi Lithium has agreed to buy roughly 62.56m shares in Chile's Sociedad Quimica Minera (SQM) for $65 apiece, according to a securities filing from the Chilean lithium miner.
Valued at roughly $4.1bn, the deal gives Chinese Tianqi a further 24% stake in SQM, stock it picks up from the newly-formed Nutrien. The agreement also allows Tianqi to elect three of SQM's eight board members.
The Canadian firm was required to sell the stock in line with a merger between PotashCorp and Agrium, which crea
Chinese lithium player grabs a further 24% in the Chilean peer for more than $4bn