Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced on October 25, 2022 that its subsidiary, Albemarle Lithium UK Limited, has completed the acquisition of Guangxi Tianyuan New Energy Materials Co., Ltd. for approximately USD200 million on the same day.
A definitive agreement to acquire all outstanding equity from Tianyuan's shareholders was announced in September 2021. Located near the Port of Qinzhou in Guangxi, Tianyuan's operations include a lithium conversion plant with a designed annual conversion capacity of up to 25,000 metric tons LCE and can produce battery-grade lithium carbonate and lithium hydroxide. The addition of Tianyuan's operations to Albemarle's high-quality lithium assets strengthens Albemarle’s ability to reliably meet the increasing global demand for battery-grade lithium and help Albemarle’s customers’ and the world’s transition to more sustainable energy use.
AllBright team for this transaction project is led by senior partner David Li, with assistance from Shirley Cao, Hongyu Liu, Ryan Sun, Jiawei Liang, Stephen Zhang, Shanzhi Liu and Zora Zeng. In this transaction, acting as the legal counsel of the Purchaser, Albemarle, AllBright team has provided a full range of highly efficient and professional legal services and has been highly recognized by Albemarle for its client service excellence.