Talison Lithium Provides Update on Tianqi Deal

Talison Lithium Limited (TSX:TLH) has provided an update on the Chengdu Tianqi Industry transaction in regards to the Scheme Implementation Agreement executed by Talison.

As quoted by the press release:

Talison confirms that Tianqi has provided the necessary documentary evidence in connection with its funding arrangements which are as follows:

• Tianqi and Windfield have entered into agreements with Leader Investment Corporation (“Leader”), a subsidiary of China Investment Corporation (“CIC”) under which CIC, through Leader, has committed to fund Windfield with approximately C$300 million of long term equity in exchange for an approximately 35%, non-controlling equity interest in Windfield to support the Transaction. CIC has received formal advice from Australia’s Foreign Investment Review Board that the Australian Government has no objections to CIC’s investment in Windfield through Leader.
• Tianqi, and one of its wholly owned subsidiaries, have also entered into loan agreements for US$200m from Credit Suisse AG, US$120m from Industrial and Commercial Bank of China Ltd and US$50m from Twenty Two Dragons Ltd (a company owned by ADM Capital).

Click here to read the full Talison Lithium Limited (TSX:TLH) press release.