Galaxy Resources buys Alita’s debts, becomes major shareholder
Published: Wednesday, 28 August 2019
Galaxy Resources announced on August 27 to have bought Alita’s debt, becoming the company largest shareholder.
Australian lithium spodumene producer Galaxy Resources has
bought Alita Resources' debt for $31.1 million, including
interest, fees and costs.
Alita Resources, also based in Australia, suspended
securities trading on August 14 to discuss its debt situation
with its consortium of lenders led by Tribeca Investment
Partners, Fastmarkets reported...