Roschier represents Sibanye-Stillwater in the next step of the Keliber lithium project
South Africa-based multinational mining and metals group Sibanye Stillwater Limited has announced its intent to increase its shareholding in Finnish mining and battery chemical company Keliber. Roschier advises Sibanye-Stillwater in the transaction.
Keliber is a Finnish mining and battery chemical company which owns the Keliber project, an advanced lithium hydroxide project located in the Kaustinen region of Finland which intends to sustainably produce battery hydroxide utilizing its own ore. As the Keliber project is progressing to the construction phase, Sibanye-Stillwater will participate in Keliber’s financing arrangement.
Sibanye-Stillwater already owns 30% of Keliber. Sibanye-Stillwater will exercise its pre-emptive right to achieve a 50% plus one share majority shareholding for new Keliber shares to the value of EUR 146 million. Sibanye-Stillwater will also participate in the second share issue, which will have a value of approximately EUR 104 million.
In addition, Sibanye-Stillwater will also make a voluntary cash offer to minority shareholders of Keliber, other than Finnish Minerals Group, which could initially increase its shareholding in Keliber to approximately 80%. Finnish Minerals Group, a Finnish State-owned holding and development company which manages the State’s mining industry shareholdings, is the second largest shareholder in Keliber behind Sibanye-Stillwater, with a current approximately 20% shareholding.
Roschier’s main advisory team comprises Toni Siimes, Wiljami Siitonen, Katri Piiparinen, Sonja Karikumpu and Maiju Airisniemi.