Salar de Maricunga SpA entered a binding scheme implementation deed to acquire Lithium Power International Limited (ASX:LPI) from Minera Salar Blanco SpA and others for approximately AUD 380 million on October 18, 2023. Under the terms, consideration shall be AUD 0.57 per share in cash. In the event of termination, AUD 3.85 million shall be paid as break fee by both parties. The transaction is subject to approval by court, shareholders of Lithium Power and approval by Foreign Investment Review Board. Lithium Power Board of Directors unanimously recommended the scheme. The scheme is expected to be implemented on February 23, 2024. The transaction was approved by the shareholders of Lithium Power on January 23. 2024. Rothschild & Co US Inc. acted as financial advisor, Carey y Cía. Ltda. and Allens acted as legal advisors and Deloitte Touche Tohmatsu LLC acted as accountant to Salar de Maricunga. Canaccord Genuity (Australia) Limited and BDO Corporate Finance Pty Ltd acted ad financial advisor to LPI. Ashurst Australia acted as legal advisor to LPI. BDO Corporate Finance Pty Ltd acted as a fairness opinion provider and Boardroom Pty Limited acted as a registrar for LPI.

Salar de Maricunga SpA completed the acquisition of Lithium Power International Limited (ASX:LPI) from Minera Salar Blanco SpA and others on March 5, 2024.