Tianqi Lithium concludes acquisition of SQM shares
2018-12-07 16:26:30 [Print]
On December 6, Tianqi Lithium announced that on December 5 Chilean time, it concluded its acquisition of SQM 62.56 million A shares by completing acquisition capital payment and share transfer.
In September 2016, Tianqi Lithium acquired Chilean lithium production company SCP with USD209 million. SCP held about 5.52 million outstanding B shares of SQM, accounting for 2.1% of SQM total outstanding shares, which meant that Tianqi Lithium had indirectly had a 2.1% stake in SQM before this A share transfer happened.
With this A share transfer completed, Tianqi Lithium now holds about 62.56 million A shares and about 5.52 million B shares of SQM which in total account for a 25.86% interest in SQM and therefore enable Tianqi Lithium to become the second largest shareholder of SQM. According to SQM Article of Incorporation, Tianqi Lithium is entitled to appointing three members to the SQM board.
In September 2016, Tianqi Lithium acquired Chilean lithium production company SCP with USD209 million. SCP held about 5.52 million outstanding B shares of SQM, accounting for 2.1% of SQM total outstanding shares, which meant that Tianqi Lithium had indirectly had a 2.1% stake in SQM before this A share transfer happened.
With this A share transfer completed, Tianqi Lithium now holds about 62.56 million A shares and about 5.52 million B shares of SQM which in total account for a 25.86% interest in SQM and therefore enable Tianqi Lithium to become the second largest shareholder of SQM. According to SQM Article of Incorporation, Tianqi Lithium is entitled to appointing three members to the SQM board.
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