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Announced

CATL to acquire a 24.68% stake in CMOC Group for $913m.

Financials

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Transaction Value£791m
Consideration TypeCash
Capital Owned-
Capital Bid For25%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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Single Bidder

Pending

Public

cobalt mining

copper mining

Nonferrous Metals

China

Reverse Takeover

Domestic

Minority

Friendly

Acquisition

Synopsis

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Contemporary Amperex Technology, a company engages in the research, development, manufactures, and sale of EV battery and energy storage battery systems, agreed to acquire a 24.68% stake in China Molybdenum, a firm engaged in the mining and processing smelting, deep processing, trade, research, and development of molybdenum, tungsten, copper, gold, and other precious and base metals, for $913m. The move comes as battery producers and new energy vehicle makers rush to secure battery raw materials resources like lithium, cobalt and nickel amid the rapid development of the new energy sector.

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