Livent investment in Nemaska Lithium
Davis Polk is advising Livent Corporation on the investment in Nemaska Lithium Inc. to double Livent’s ownership interest to 50% of Nemaska Lithium. Nemaska Lithium is a fully integrated lithium hydroxide development project located in Québec, Canada. Livent will issue 17,500,000 shares of its common stock to The Pallinghurst Group and its investors in connection with the acquisition of the half of Québec Lithium Partners (QLP) that Livent does not own. Following the close of the transaction, QLP will become a wholly owned subsidiary of Livent, and Livent will in turn own 50% of Nemaska through QLP. The closing of the transaction is subject to customary conditions, including, among other things, the expiration of certain notice periods required by applicable law.
For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. Pallinghurst is a leading private investor in the global natural resources sector. Pallinghurst’s firm focus is on investing in the entire value-chain of sustainably sourced battery and fuel-cell materials.
The Davis Polk corporate team includes partners William H. Aaronson and Cheryl Chan and associate Alex Yang. Partner Michael Kaplan is providing capital markets advice. Partner William A. Curran and associates Aliza Slansky and Constance Zhang are providing tax advice. All members of the Davis Polk team are based in the New York office.