Nutrien, Tianqi respond to Cascadas complaint against SQM purchase
Tianqi and Canada's Nutrien presented a series of legal reports to Chile's constitutional court (TC) following a complaint filed by the so-called Cascada companies seeking to annul the agreement reached between the FNE antitrust prosecutor and the Chinese company to allow the latter to acquire a 24% stake in SQM held by Nutrien.
The complaint made by the companies Pampa Calichera, Potasios de Chile and Inversiones Global Mining, the Cascada companies through which executive Julio Ponce effectively controls SQM, led the TC to halt proceedings in antitrust tribunal TDLC until October 22, when it will decide whether the appeal from the Cascada companies is admissible.
Nutrien presented a report from lawyer Javier Couso, which states that the complaint from Grupo Pampa, one of the Cascada companies, "must be declared inadmissible," since it does not comply with various important requirements.
Tianqi presented three reports which focus on the non-procedence of the complaints presented by the Cascada companies against its purchase of the SQM shares.
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