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Rockwood to acquire 49% stake in Australian lithium producer through JV with Tianqi

3:48 AM MST | December 2, 2013 | Deepti Ramesh

Rockwood Holdings says that it has entered into a joint venture with Chengdu Tianqi Industry Group (Tianqi; Chengdu, China), China’s leading lithium company, giving Tianqi a 51% stake and Rockwood a 49% stake in Talison Lithium (Perth, Australia), a leading global producer of lithium. The transaction is expected to close during the first quarter of 2014, following receipt of regulatory approvals, Rockwood says. Rockwood, in August 2012, agreed to acquire Talison for C$724 million ($770 million), or C$6.50/share. Tianqi, in December 2012, outbid Rockwood by...

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