Zinnwald Lithium Plc (AIM:ZNWD) entered into an agreement to acquire remaining 50% stake in Deutsche Lithium GmbH from SolarWorld Aktiengesellschaft (DB:SWVK) for €8.8 million on June 22, 2021. The consideration includes cash payment of €1.5 million which will be satisfied from company's existing cash resources and the issue of approximately 50 million new ordinary shares. For the year ending December 31, 2020, Deutsche Lithium generated losses of €0.24 million and had total assets as at 31 December 2020 were €8.25 million. David Hart and Liz Kirchner of Allenby Capital Limited acted as nominated advisor to Zinnwald Lithium PLC. Franz Aleth, Nils Derksen, Christian Sistermann and Tanja Walter-Yadegardjam of Freshfields Bruckhaus Deringer acted as legal advisor to insolvency administrator of SolarWorld AG. Horst Piepenburg and Wolfgang Piroth of Piepenburg Rechtsanwälte acted for the insolvency administration of Solarworld AG. Josef Parzinger, Sacha Lürken, Wolfgang M. Nardi, Daniel McMann, Romin Dabir and Stuart Boyd of Kirkland & Ellis advised secured creditors.

Zinnwald Lithium Plc (AIM:ZNWD) completed the acquisition of remaining 50% stake in Deutsche Lithium GmbH from SolarWorld Aktiengesellschaft (DB:SWVK) on June 28, 2021.