Tianqi Lithium Corporation’s $4.07 Billion Acquisition of 24% Stake in Sociedad Química y Minera de Chile S.A.

Weil, Gotshal & Manges, Carey, Jones Day and Claro & Cia advised on the deal

Nutrien Ltd. (“Nutrien”) and Tianqi Lithium Corporation (“Tianqi Lithium”) announced today that they have signed an agreement, whereby Tianqi Lithium has agreed to purchase 62,556,568 “A shares” of Sociedad Química y Minera de Chile S.A. (“SQM”) held by Nutrien for consideration of $65 per share in cash. The announced transaction represents the entirety of Nutrien’s “A shares” at a gross valuation of approximately US$4.07 billion.

SQM is an integrated producer and distributor of lithium, iodine, specialty plant nutrients, potassium-related fertilizers and industrial chemicals.

Nutrien still retains ownership of 20,166,319 SQM “B shares” and expects to divest these shares in due course.

Nutrien is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute over 26 million tonnes of potash, nitrogen and phosphate products world-wide.

Tianqi Lithium is a leading global supplier of lithium products, with major businesses including lithium resource development and exploitation, downstream production processing and trade for a diverse range of high quality lithium products including mineral concentrates. The company, led by Wu Wei, Guo Wei and Ge Wei, in 2017 recorded $780 Million revenues.

Weil, Gotshal & Manges advised Tianqi Lithium Corporation with Michael E. Lubowitz (Picture), Kimberly Thibault, Andrea S. Ryken and Brianna Dollinger.

In Chile, Carey advised Tianqi Lithium Corporation with Francisco Ugarte, Rafael Vergara, Claudio Lizana, Jorge Ugarte, Francisco Corona, Luciano Aguilera, Alejandro Montt, Borja Coz, Felipe Astaburuaga, Josefina Joannon, Pamela Morales and Reiner Baack.

Jones Day advised Nutrien Ltd. with Robert A. Profusek, Jeffrey Symons, Yizhe Zhang, Joel May, Yi Claire Sheng and Phillip Proger.

In Chile, Claro & Cia. advised Nutrien Ltd. with José María Eyzaguirre B., Juan León and Cristián Lagos.

 

Involved fees earner: Francisco Ugarte – Carey; Jorge Ugarte – Carey; Luciano Aguilera – Carey; Felipe Astaburuaga – Carey; Josefina Joannon – Carey; Pamela Morales – Carey; Reiner Baack – Carey; Rafael Vergara – Carey; Francisco Corona – Carey; Alejandro Montt – Carey; Borja Coz – Carey; Claudio Lizana – Carey; José María Eyzaguirre – Claro y Cia; Juan León – Claro y Cia; Cristián Lagos – Claro y Cia; Kimberly Thibault – Weil, Gotshal & Manges; Michael Lubowitz – Weil, Gotshal & Manges; Andrea Ryken – Weil, Gotshal & Manges; Brianna Dollinger – Weil, Gotshal & Manges; Robert Profusek – Jones Day; Jeffrey Symons – Jones Day; Joel May – Jones Day; Yi Claire Sheng – Jones Day; Yizhe Zhang – Jones Day; Phillip Proger – Jones Day;

Law Firms: Carey; Claro y Cia; Weil, Gotshal & Manges; Jones Day;

Clients: Tianqi Lithium Corporation; Nutrien Ltd.;

 

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Author: Ambrogio Visconti