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Announced

Completed

Ganfeng Lithium completed the acquisition of Lithea from Pluspetrol Resource for $962m.

Financials

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Transaction Value£802m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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lithium mining

Argentina

Nonferrous Metals

Single Bidder

Majority

Friendly

Private

Acquisition

Cross Border

Completed

Synopsis

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Ganfeng Lithium, China's biggest lithium compounds producer, completed the acquisition of Lithea, which owns rights to two lithium salt lakes in Argentina's mineral-rich Salta province, from Pluspetrol Resource, an oil and gas exploration company, for $962m. The deal comes amid a rush to secure lithium resources as demand for the metal soars on expectations of rapid growth in electric vehicle demand.

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