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Rockwood acquires 49% stake in Australian lithium producer

3:56 PM MST | December 9, 2013 | —Deepti Ramesh

Rockwood Holdings has entered into a joint venture with Chengdu Tianqi Industry Group (Tianqi; Chengdu), 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, Rockwood says. In August 2012, Rockwood agreed to acquire Talison for C$724 million ($770 million), but the company was outbid by Tianqi, which offered C$847 million in December 2012. Rockwood expects to contribute equity of...

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