Resumen de Tianqi board approves Chinese lithium company acquisition
Tianqi gets the go-ahead to acquire stake in Chongqing Kunyu.
Tianqi Lithium has been given the go-ahead to acquire a major stake in Chongqing Kunyu Lithium Co Ltd, following a majority vote by the Tianqi board of directors.
Following the transaction, Tianqi's subsidiary Chengdu Tianqi Lithium will own 86.4% of Chinese producer Chongqing Kunyu Lithium.
Chongqing Kunyu is a lithium chemicals producer established in 2008 and supplies the aerospace, medical, battery, grease, special metal and the glass industries.
Meanwhile, in a conference call with investors in August, Bo Li, secretary of the board, said the company's Australian developments are reported to be moving smoothly.
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