Allkem Limited signed an agreement with Livent

Allkem Limited (ASX: AKE) announced that it has entered into a definitive agreement with Livent to conglomerate the two companies to make a prominent global lithium chemicals producer. The Transaction is anticipated to close by the end of the calendar year 2023. Upon closing, Allkem shareholders will own approximately 56%, and Livent shareholders will own about 44% of the new company.

Both companies will syndicate their highly complementary range of assets, growth projects, and operating skills across extraction and processing under a vertically integrated business model with the scale and expertise to meet the rapidly growing demand for lithium chemical products. The combined company will have a substantial footprint of low-cost assets diversified across key geographies, products, and customers.

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