Lithium company Livent advised by Ogier in US$10.6 billion merger with Allkem

Ogier in Jersey is advising US-based Livent Corp in its US$10.6 billion merger of equals with Australia's Allkem Ltd to create a leading global lithium chemicals producer.

Following the transaction, Allkem and Livent shareholders are expected to own approximately 56% and 44% of the combined company, respectively, which will be held in a newly incorporated Jersey company (JerseyCo) that will have a primary listing on the NYSE and maintain a foreign exempt listing on the ASX.

The transaction is subject to the satisfaction or waiver of customary closing conditions and has been unanimously approved by the board of directors of each company. The transaction is expected to close by the end of calendar year 2023.

The team was led by corporate partners Simon Dinning and Alexander Curry, and included senior associate Alex Fisher and associate Aaron Forster. They advised from a Jersey law perspective, alongside Davis Polk & Wardwell LLP in New York and Washington. Ogier's corporate and fiduciary experts at Ogier Global also acted on the formation of JerseyCo.

Alexander said: "We are delighted to be working with Livent alongside David Polk & Wardwell LLP on this significant transaction in the global lithium industry.  This transaction is yet another example of our expertise in dealing with large scale cross-border transactions, this time in the mining sector."

Livent is a global leader in lithium processing technologies, producing a diverse range of lithium chemicals for energy storage and other specialty applications. Allkem is one of Australia's biggest lithium producers, with expertise in conventional brine-based lithium extraction, hard rock mining and lithium processing.

Ogier's Energy and Natural Resources services bring together legal, regulatory, and corporate and fiduciary professionals to provide full-service solutions to clients in the conventional power and renewables space, as well as those in natural resources exploration, mining, production and product delivery.