Brief: Rio Tinto working with Credit Suisse, Rothschild for SQM stake
Rio Tinto is said to be working with Credit Suisse and Rothschild to present an offer for the 32% stake that Canada's Potash Corporation of Saskatchewan (PotashCorp) owns in Chilean lithium and fertilizer group SQM, Bloomberg reported.
PotashCorp is selling its interest in SQM to meet the requirements of Indian antitrust authorities in order to complete its merger with Canadian fertilizer firm Agrium.
Other firms reportedly interested in the SQM stake include Chinese private equity firm GSR Capital, battery materials company Ningbo Shanshan and lithium producer Tianqi Lithium.
PotashCorp has 18 months to comply with the divestment of several minority shareholding interests which, in addition to SQM, include a 28% holding in Arab Potash Company and 15% of potash producer Israel Chemicals Company,
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