Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.
SOURCE Chengdu Tianqi Industry Group Co., Ltd
TORONTO, March 22, 2013 /CNW/ - Chengdu Tianqi Industry (Group) Co.,
Ltd. ("Tianqi" or the "Offeror") today announced that Leader Investment Corporation ("Leader"), a subsidiary of China Investment Corporation ("CIC"), has subscribed for a 35% non-controlling equity interest in the Offeror's subsidiary Windfield
Holdings Pty Ltd ("Windfield"), in consideration of subscription proceeds of approximately CDN$292
million (the "Subscription"). The Subscription has been made in connection with Windfield's
previously announced proposed acquisition of Talison Lithium Limited ("Talison") by way of schemes of arrangement (the "Transaction").
As of the date hereof, the Offeror owns or controls a total of
22,878,033 ordinary shares ("Shares") of Talison, representing 19.99% of the issued and outstanding Shares
(calculated on a non-diluted basis and based on 114,401,292 Shares
issued and outstanding, based on the share registry provided by
Talison).
Tianqi, via its subsidiary Sichuan Tianqi Lithium Industries, Inc. ("Tianqi Lithium"), is the world's largest hard rock lithium converter. With over ten
years experience in the research, production and sales of lithium
chemicals, Tianqi Lithium offers a diverse portfolio of products
ranging from carbonate to lithium metals, in order to meet almost all
kinds of raw material demands from battery producers. Tianqi Lithium
holds a significant market share and is one of the most important raw
material providers for the clean energy industry in China.
Tianqi has enjoyed a strong and mutually beneficial relationship with
Talison and its predecessors since 1997. Tianqi (through subsidiaries)
currently purchases approximately 40% of the chemical grade lithium
concentrate produced by Talison and is the sole distributor in China of
Talison's technical grade lithium concentrate.
An early warning report will be filed on SEDAR and will be available for
review at www.sedar.com under Talison's profile.
Tianqi's financial adviser is RedBridge Grant Samuel, its tax and
accounting adviser is PricewaterhouseCoopers, and its legal advisers
are Linklaters and ZhongLun in China, Allens in Australia and Stikeman Elliott in Canada.
Further Information About Tianqi:
Tianqi is a privately held Chinese company founded in 2003. Its business activities are primarily conducted through the following
subsidiaries:
-
Sichuan Tianqi Lithium Industries, Inc. - a Chinese company listed on the Shenzhen Stock Exchange, engaged in
the production of lithium carbonate and other lithium products from
chemical-grade lithium concentrates sourced from Talison;
-
Sichuan Tianqi Industry Co., Ltd. - a distributor of technical grade lithium concentrates, as the sole
distributor for Talison in China;
-
Chengdu Tianqi Machinery, Metals & Minerals Import & Export Co., Ltd.- provides spare parts and accessories for machinery and electrical
equipment used in the construction, packing and agriculture sectors;
and
-
Chengdu Sendasun Agricultural Machinery Co., Ltd. - undertakes research, development, manufacturing and sales of
agricultural equipment.
Tianqi and its subsidiaries conduct their operations mainly from China,
but have customers, business partners and suppliers in various
countries around the world, including Europe, Australia, the United
States and Japan.
More information about Tianqi is available from the following website: www.tianqigroup.cn/en/Index/aboutus.html
Further Information About CIC:
CIC is an investment institution incorporated in accordance with the PRC
Company Law. It seeks stable and long-term financial returns within its
risk tolerance and operates on a commercial basis.
For more information, please refer to CIC's website: www.china-inv.cn/cicen/
©2012 PR Newswire. All Rights Reserved.
