Tianqi Lithium Corporation to acquire 24% of the shares of Sociedad Quimica y Minera de Chile S.A. from Nutrien for US$4.07 Billion

On May 17, 2018, Tianqi Lithium Corporation (“Tianqi Lithium”) announced its U.S.$4.07 billion acquisition of approximately 62.5 million Class A Shares (comprising approximately 24% of the outstanding shares) of Sociedad Quimica y Minera de Chile S.A. (“SQM”) from Nutrien Ltd. The transaction is subject to customary closing conditions, including regulatory approvals and Tianqi Lithium shareholder approval, and is expected to be completed by the fourth quarter of 2018. Tianqi Lithium is a Chinese company which is a leading global supplier of lithium products. SQM is a Chilean integrated producer and distributor of lithium, iodine, specialty plan nutrients, potassium-related fertilizers and industrial chemicals. Nutrien is a Canadian company which is the world’s largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. Tianqi Lithium’s lead counsel is Weil in the U.S. and Carey in Chile. Fasken is Canadian counsel to Tianqi Lithium with a team that includes Stephen Erlichman (corporate/securities), Tony Baldanza (regulatory), Elyse Velagic (corporate/securities) and David Steinhauer (corporate/securities).