Tianqi set to buy 2% stake in SQM

By Myles McCormick, Yoke Wong
Published: Tuesday, 27 September 2016

The deal marks further expansion by the Chinese lithium producer, which had already indicated an interest in acquiring a share of its Chilean rival via an alternate route.

China’s Tianqi Lithium Industries Inc. will buy a 2.1% stake in Chilean rival Sociedad Quimica y Minera SA (SQM), subject to regulatory approvals, it announced in a statement on the Shenzhen Stock Exchange overnight.

The company will pay $209.63m for the stake, to Sailing Stone Capital Partners LLC, an...

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