Tianqi Lithium/IGO lithium joint venture to acquire Essential Metals
Green Car Congress
JANUARY 9, 2023
Tianqi Lithium Energy Australia Pty Ltd (TLEA), the 2021 lithium joint venture entity owned by Tianqi Lithium Corporation (TLC) (51%) and IGO (49%), has entered into an agreement to acquire 100% of Essential Metals Limited for A$0.50/share, payable in cash. The transaction represents a 36.3% premium to ESS’s 30-day VWAP and values ESS’s equity at A$136 million on a fully diluted basis.
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