Huayou Cobalt to acquire 100% shares of Prospect Lithium at USD422 million
2021-12-23 15:40:07 [Print]
Huayou Cobalt announced on December 22nd that it will, through its subsidiary, Huayou International Mining (Hong Kong) Limited (hereinafter to as Huayou International), acquire 87% shares of Prospect Lithium Zimbabwe (Pvt) Ltd (hereinafter referred to as Prospect Lithium) held by Singapore Prospect Minerals Pte Ltd (hereinafter referred to as PMPL), a wholly-owned subsidiary of Australia Prospect Resources Ltd (hereinafter referred to as Prospect Resources), as well as the related creditor's rights of Prospect Resources to Prospect Lithium in accordance with the Intercompany Loan Agreement at USD378 million
Huayou International will hold 100% shares of Prospect Lithium as well as the related creditor's rights based on the Intercompany Loan Agreement after the deal, which has a total price of USD422 million, is completed. Prospect Lithium owns 100% shares of Arcadia Lithium in Zimbabwe.
. Meanwhile, Huayou Cobalt will acquire the rest 13% shares of Prospect Lithium at USD44 . 2447 million through Huayou International. Huayou International will hold 100% shares of Prospect Lithium as well as the related creditor's rights based on the Intercompany Loan Agreement after the deal, which has a total price of USD422 million, is completed. Prospect Lithium owns 100% shares of Arcadia Lithium in Zimbabwe.