Gilbert + Tobin has advised Contemporary Amperex Technology Limited (CATL) on the negotiation and drafting of a share subscription agreement which will see CATL emerge as one of the biggest shareholders in Pilbara Minerals as part of a $91.5 million equity raising.
Under the agreement CATL will invest $55 million representing an 8.5% ownership stake in Pilbara Minerals.
Commenting on the deal, Justin Little said, “we are delighted to have advised on this important investment which signals the start of a long-term strategic relationship between CATL and Pilbara Minerals. This transaction is representative of G + T’s extensive experience in the emergence of the battery minerals sector, having acted on transactions involving all segments of the lithium supply chain.”
CATL is China’s leading manufacturer of electric vehicle batteries for global EV manufacturers like Toyota, BMW, Volkswagen and Honda.
Pilbara Minerals is an emerging Australian lithium producer which owns the Pilgangoora Lithium-Tantalum Project. The Pilgangoora project is located in the Pilbara region of Western Australia and is one of the largest lithium ore deposits in the world.
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