Rockwood Holdings Inc acquires 49 pc stakes in Talison Lithium Pty Ltd

Rockwood to acquire 49 pc stake in Talison

6:37 AM, 29th May 2014
Rockwood Holdings Inc acquires 49 pc stakes in Talison Lithium Pty Ltd

PRINCETON, US: Rockwood Holdings Inc has completed the acquisition of the ownership interest to create a joint venture with Sichuan Tianqi Lithium Industries Inc (Tianqi), giving Rockwood a 49 per cent ownership interest in Talison Lithium Pty Ltd. Rockwood funded the purchase price of $475 million from cash on hand.

“Completing the acquisition of 49 per cent in Talison is a significant strategic step as we move forward to position Rockwood Lithium as the premier provider of lithium products to our global customers. We are now uniquely situated with significant and diverse lithium resources in multiple continents, including South America, North America and now Australia. This will assure our customers that we have the ability to meet their fastgrowing needs,” said Seifi Ghasemi, Chairman and Chief Executive Officer, Rockwood.

“Additionally, this acquisition drives meaningful shareholder value as it meets all of our key capital allocation criteria that we previously announced. It is the leading spodumene producer with the largest and richest mine operations in the world, accretive from day one and expected to deliver margins well over our 25 per cent target. We look forward to working with our Chinese partner to further develop and grow this excellent resource,” added Ghasemi.

 

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