Galaxy agree to sell China-based lithium plant to Tianqi for lower price

By Adam Page
Published: Monday, 02 February 2015

Galaxy has opted to sell its Jiangsu plant for a lower price after renegotiations with Tianqi. Galaxy is hoping that the deal can provide them some financial stability after several troubled years and the lower price exemplifies how much the company needs to make the sale of what was once their proudest asset.

ASX-listed Galaxy Resources Ltd. has completed its sale of its Jiangsu lithium carbonate plant in China to Sichuan Tianqi Lithium Industries Inc., for a lower price than previously agreed.

The revised value for the share purchase agreement (SPA) came to A$223m ($173.2m*), whereas the previous deal had been for A$249m....

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