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Issue 21/2017 - Sinochem bids for lithium battery supplier giant

 Last Update: 2022-11-11
 Source: Internet
 Author: User

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According to foreign media reports, Sinochem intends to bid for a $4 billion stake in lithium battery supplier giant Chile Chemical Mining Company (SQM), one of
the world's largest lithium producers.

The bids for Canada's $4 billion stake in potash also include Chinese private equity firm GSR Venture Capital, Ningbo Shanshan, and Tianqi Lithium
, China's largest lithium battery producer, according to people familiar with the matter.

Canadian Potash is selling its stake in SQM to meet regulatory conditions
for the Canadian company to merge with California-based fertilizer group Agrium.
People familiar with the matter said Goldman Sachs and Bank of America Merrill Lynch were eyeing the deal
.
SQM is a manufacturer and distributor of fertilizers and specialty chemicals including lithium and iodine, headquartered in Santiago, Chile and listed on the San Diego Stock Exchange and the
New York Stock Exchange.
SQM's NYSE stock price has risen 107% to $
59.
20 this year due to rising demand for lithium in the electric vehicle industry.

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