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Orocobre Limited and Galaxy Resources agree to merger of equals valued at A$4B

Date Announced

April 19, 2021

On April 19, 2021, Orocobre Limited entered into a binding Merger Implementation Deed (MID) under which it would acquire 100% of the shares in Galaxy Resources Limited via a Galaxy Scheme of Arrangement. Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date.

The merger is said to create a top 5 global lithium chemicals company based on market capitalization.

Orocobre, based in Australia, is a global lithium carbonate supplier and an established producer of boron, with producing assets in Argentina's “Lithium Triangle” and in British Columbia.

Galaxy Resources Limited is a lithium production company with projects underway in Quebec, Argentina, and Australia.

McCarthy Tétrault advised Orocobre with a team led by Matthew Cumming.