US Rockwood to acquire Australia’s Talison Lithium for C$724m in cash

23 August 2012 14:45  [Source: ICIS news]

HOUSTON (ICIS)--Rockwood has agreed to acquire Australia's Talison Lithium for Canadian dollar (C$) 724m ($731m) in cash, the US-based specialty chemicals firm said on Thursday.

Talison Lithium is incorporated and headquartered in Australia but its shares are listed on the Toronto Stock Exchange.

“The acquisition of Talison is the logical next step in further strengthening our lithium business and enhancing our capabilities,” said Rockwood CEO Seifi Ghasemi.

Rockwood plans to finance the acquisition using existing cash on its balance sheet and new debt financing. The deal is subject to approval by Talison shareholders and other closing conditions.

($1 = C$0.99)

By: Stefan Baumgarten
+1 713 525 2653

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