Allkem, a Chilean lithium producer, has announced a $15.7 billion merger with US-based Livent, a leading producer of lithium compounds. The deal will create a global leader in the lithium industry, with the combined company set to become one of the largest producers of lithium chemicals.
The merger is expected to provide significant benefits to both companies. Allkem will gain access to Livent’s extensive technical expertise, research and development capabilities, and established customer base in the US and Europe. Livent, on the other hand, will gain access to Allkem’s high-quality lithium reserves in Chile, one of the world’s largest lithium-producing countries.
The transaction is subject to regulatory approval and is expected to close in the second half of 2023. Upon completion, the combined company will operate under a new name and be listed on the New York Stock Exchange.
The lithium market has seen significant growth in recent years due to the increasing demand for electric vehicles and renewable energy storage solutions. The merger between Allkem and Livent is a strategic move that will enable both companies to capitalize on this growing demand and expand their global footprint in the lithium industry.
- Published By Team Australia News