Allkem’s (ASX:AKE) new holding company Arcadium Lithium (NewCo) — as part of its merger with Livent Corporation (NYSE:LTHM) — has received Australian Foreign Investment Review Board (FIRB) approval.
Allkem, which has a $5.51 billion market capitalisation, says all parties have now received antitrust/competition approvals in Canada, China, Japan, South Korea, and the US, as well as foreign investment approvals in Australia.
The company notes this represents all competition and foreign investment approvals that are required before completion of the deal.
Allkem and Livent are targeting the closure of the transaction on 4 January 2024, subject to the satisfaction or waiver of other closing conditions by both Livent and Allkem shareholders. Australian court approval of the scheme is also required.
Headquartered in Buenos Aires, Argentina, Allkem’s portfolio comprises lithium brine operations, as well as a hard-rock lithium operation in Australia and a lithium hydroxide conversion facility in Japan.
Allkem is actively working on new project developments across the globe to enhance the international scale and product flexibility to meet significant market growth underpinned by the global transition to a net zero carbon future.
The company’s Argentinian projects include its flagship Olaroz Lithium Project, the Sal de Vida, and Cauchari projects. Other assets held by Allkem include the Mt Cattlin in Western Australia and the James Bay Project in Quebec, Canada.
Write to Adam Drought at Mining.com.au