Australian lithium merger targets Argentina

Australian lithium merger targets Argentina

Corporate & Sovereign Strategy M&A Latin America South America Argentina Australia Energy Electricity

Australian lithium producers Orocobre and Galaxy Resources agreed Monday to merge their businesses in a AUD4 billion ($3.1 billion) deal that would create one of the world's top-five lithium chemicals producers with a head office in Argentina, as demand for the silvery-white metal grows with more use of electric vehicles (EVs). Orocobre will own 54.2% of the new company and Galaxy the remaining 45.8%, according to a joint statement. The deal is expected to close in July or August. Martín Pérez

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial