Twitter LinkedIn
    Tuesday, August 9
    Login
    0 Shopping Cart
    Twitter LinkedIn
    Private Equity InsiderPrivate Equity Insider
    • About Us
    • Digital Events
    • Our Network
      • Reach
      • Sponsors
      • Members
    Private Equity InsiderPrivate Equity Insider
    Home»Deals & Transactions»Australia’s Orocobre buying Galaxy for $1.4 bln to create world No.5 lithium miner
    Deals & Transactions

    Australia’s Orocobre buying Galaxy for $1.4 bln to create world No.5 lithium miner

    April 21, 20211 Min Read
    LinkedIn Facebook Twitter Email WhatsApp
    Share
    LinkedIn Facebook Twitter Email WhatsApp

    Australian lithium miner Orocobre Ltd is buying smaller domestic peer Galaxy Resources for $1.4 billion to create the world’s fifth most valuable producer of the key raw material for electric vehicle batteries.

    The all-stock deal for A$1.78 billion ($1.38 billion)announced on Monday, which will also establish Australia’s most valuable lithium miner with a A$4 billion market capitalisation, comes as demand for the material is booming amid a jump in global sales of electric vehicles.

    Shares of both companies hit more than three year highs in early trade, with Orocobre gaining about 6% to A$6.56 and Galaxy rising 4% to A$3.75.

    The merged company will have a strong balance sheet with $487 million in cash, better access to finance and streamlined product marketing.

    Read more at Reuters

    By Reuters, Shruti Sonal, Melanie Burton

    Image Source

    Related

    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

    Mergers and acquisitions
    Share. LinkedIn Facebook Twitter Email WhatsApp

    Related Posts

    Carlyle to acquire controlling stake in Ocmis

    August 8, 2022

    BlackRock to offer Crypto for Institutional Investors through Coinbase

    August 8, 2022

    Abris-backed GreenGroup buys UAB Ecso

    August 8, 2022

    KKR forms strategic alliance with Loop Capital to offer equity research and distribution capabilities

    August 4, 2022

    Comments are closed.

    Other Articles

    Crossplane Capital closes Fund II above its $325m target

    July 14, 2022

    Vistra launches SPAC and de-SPAC services

    August 8, 2021

    Ted Baker puts itself up for sale after third US private equity bid

    April 4, 2022

    Riata Capital Group Invests in Greenix

    February 19, 2021

    Private Equity Insider LLC
    1212 Avenue of the Americas
    New York City 10036
    USA

    [email protected]

    Twitter LinkedIn
    © 2022 Private Equity Insider LLC. All rights reserved.
    • About
    • Terms of Use
    • Cookie Policy
    • Privacy Policy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.

    View Cart Checkout Continue Shopping

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?