Davis Polk, Linklaters and Allens have advised on Rio Tinto’s USD6.7 billion acquisition of Arcadium Lithium, a global lithium chemicals producer listed on the NYSE and ASX.
“With the growing global demand for sustainable energy solutions, we anticipate sustained interest in lithium assets as mining companies continue to evolve and innovate to meet these critical needs,” said Richard Kriedemann, M&A partner at Allens.
Rio Tinto, a mining giant with operations in 35 countries, is expanding its portfolio of energy transition commodities through the acquisition. The acquisition, structured as an all-cash transaction, will be implemented via a Jersey scheme of arrangement and is expected to close in mid-2025, pending regulatory approvals and other customary closing conditions.
Davis Polk is representing Arcadium Lithium on the transaction. The firm’s team, which involves members from New York, Washington DC, and London, is being led by corporate partners William Aaronson and Cheryl Chan with partners Michael Kaplan, William Curran, Howard Shelanski and Kyoko Takahashi Lin.
Linklaters is advising Rio Tinto on the broader aspects of the acquisition, with partners George Casey, Pierre-Emmanuel Perais, James Inglis and Lisa Chang leading the team.
Allens, in alliance with Linklaters, is advising Rio Tinto on the Australian law aspects of the transaction, with lead M&A partners Richard Kriedemann and Chris Blane. Partner Carolyn Oddie is advising on competition law.
Arcadium Lithium’s vertically integrated operations include hard-rock mining, conventional brine extraction and direct lithium extraction. The company has facilities and projects in Argentina, Australia, Canada, China, Japan, the UK and the US.
