Pala Investments completed the acquisition of Cobalt 27 for C$501m.

Private equity firm Pala Investments completed the acquisition of Cobalt 27 Capital Corp, a leading battery metals streaming company, for C$501m ($374m). The offer price represents a 66% premium to current share price. "We believe this is a highly compelling offer for Cobalt 27, as the transaction provides shareholders with a large upfront premium. It is also clear that nickel will be an increasingly critical component of the electric battery revolution, and the creation of Nickel 28 provides shareholders with significant incremental value and continued exposure to the strong fundamentals of battery metals,” Anthony Milewski, Chairman and CEO of Cobalt 27.