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Mining News July 01, 2022 03:40:29 PM

Sibanye-Stillwater to Raise its Shareholding in Finland’s Keliber

Paul Ploumis
ScrapMonster Author
In addition, the company stated its willingness to make a voluntary cash offer to minority shareholders of Keliber so as to raise its total stake to almost 80%.

Sibanye-Stillwater to Raise its Shareholding in Finland’s Keliber

SEATTLE (Scrap Monster): Johannesburg, South Africa-headquartered Sibanye-Stillwater annoiunced that it has made initial investment in Finnish lithium firm Keliber, by acquiring 30.29% shareholding, in line with the announcement made in late February this year. Furthermore, it expressed interest to raise its shareholding to 50% plus one.

In addition, the company stated its willingness to make a voluntary cash offer to minority shareholders of Keliber so as to raise its total stake to almost 80%. The remaining 20% stake is currently held by The Finnish Minerals Group, a Finnish State-owned holding and development company. Upon completion of acquisition, it will emerge as the second largest shareholder in Keliber behind Sibanye-Stillwater.

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Keliber owns an advanced lithium hydroxide project located in the Kaustinen region of Finland which produces battery grade lithium hydroxide sustainably.

The company plans to increase its shareholding in Keliber to 50% plus 1 share for a cash consideration of approximately €146 million on 11th July, 2022. If all minority shareholders other than The Finnish Minerals Group agree to accept the purchase offer, the total consideration is expected to amount to €196 million. In addition, the company also plans to execute a capital raise by Keliber. All the above transactions are scheduled to come to an end before 13th February, 2023, the company press release noted.

 

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