AllBright Advises Albemarle on Acquisition of Guangxi Tianyuan
2021-10-0116118Albemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced on September 30, 2021, that its subsidiary, Albemarle Lithium UK Limited, has signed a definitive agreement to acquire all of the outstanding equity of Guangxi Tianyuan New Energy Materials Co., Ltd.. Under terms of the agreement, Albemarle will acquire all outstanding equity from Tianyuan’s shareholders for approximately USD $200 million, subject to certain adjustments. Albemarle expects the transaction, which is subject to customary closing conditions, to close in early 2022. AllBright, acting as Albemarle’s legal counsel, provided full-scope legal services for this acquisition.
Tianyuan is a lithium converter located in Guangxi, China. Founded in 2017, Tianyuan’s operations include a recently constructed lithium processing plant strategically positioned near the Port of Qinzhou in Guangxi. The plant has designed annual conversion capacity of up to 25,000 metric tons LCE and is capable of producing battery-grade lithium carbonate and lithium hydroxide. As the global transition to cleaner energy rapidly develops, this added lithium capacity will enable Albemarle to help their customers achieve their growth and sustainability ambitions. AllBright team for this transaction includes senior partner David Li, associates Hongyu Liu, Shirley Cao, Ryan Sun, Stephen Zhang, and Jiawei Liang.
