Norton Rose Fulbright advises POSCO on $US280m acquisition from Galaxy Resources Limited
September 4, 2018
A cross-border team from global law firm Norton Rose Fulbright has advised POSCO on its US$280 million acquisition of a package of Argentinean lithium tenements from Galaxy Resources Limited. POSCO and Galaxy executed binding definitive documentation on 27 August 2018, with completion of the transaction expected to occur in Q4 2018.
POSCO, a Korean listed company and one of the world’s largest steel producers, will acquire the tenements in the northern basin of the Salar del Hombre Muerto region of Argentina. ASX-listed Galaxy will retain the tenements located in the southern portion of its Sal de Vida Project.
The Norton Rose Fulbright team was jointly led by Perth based M&A partner Adam Edelman and Vancouver based corporate partner John Kim with support from Vancouver based securities partner David Hunter, Vancouver based associate Graeme Austin and Perth based lawyer Frances Hewitt. The Norton Rose Fulbright team worked closely with local counsel in Argentina.
Norton Rose Fulbright M&A partner Adam Edelman commented:
‘We are very proud of the quality of support and assistance we continue to provide POSCO through our global network. This is a strategically significant acquisition for POSCO that will enable it to expand its global lithium credentials. Our involvement in the transaction highlights the strength of Norton Rose Fulbright’s global mining knowledge and expertise.”
The team continues to assist POSCO with the transaction.