Lithea is mainly engaged in the acquisition, exploration and development of lithium mining rights. Its main asset, the PPG project, is the lithium salt lake project in Salta Province, Argentina, including two lithium salt lake assets, Pozuelos and Pastos Grandes. Ganfeng Lithium announced on July 11 that the board of directors agreed that its wholly-owned subsidiary Ganfeng International or its wholly-owned subsidiary would acquire no more than 100% of Lithea’s shares. The total consideration for the acquisition should not exceed US$962 million. The total consideration for the acquisition includes The value of the entire equity interest in Lithea and the value of the Lithea-related debt that the company will assume.
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