Chengdu Tianqi agrees to acquire additional shares in Talison Lithium

Chengdu Tianqi agrees to acquire additional shares in Talison Lithium 
TORONTO, Nov. 21, 2012 /CNW/ - Chengdu Tianqi Industry (Group) Co., Ltd. 
("Tianqi") today announced that Windfield Holdings Pty Ltd ("Windfield"), a 
wholly-owned subsidiary of Tianqi, has entered into conditional purchase 
agreements in respect of the acquisition of a further 4,434,371 ordinary 
shares ("Shares") in Talison Lithium Limited ("Talison") representing 3.88% of 
the issued and outstanding Shares, calculated on a non-diluted basis, at a 
price per Share of C$7.15 subject to certain price adjustments and subject to 
the condition that Tianqi receives approval from the Australian Treasurer 
under Australia's Foreign Acquisitions and Takeovers Act ("FIRB Approval"). 
Windfield entered into the purchase agreements in connection with the 
submission of its formal written proposal on November 19, 2012 to the board of 
directors of Talison under which Windfield would acquire all of the Shares 
that it does not already own for a price of $7.15 per Share in cash. 
Upon FIRB Approval being received, Tianqi will therefore own 22,878,033 Shares 
or 19.99% of the issued and outstanding Shares (calculated on a non-diluted 
basis and based on 114,390,171 Shares issued and outstanding, based on the 
share registry provided by Talison). 
Tianqi intends to vote or cause to be voted all the Shares it owns or controls 
against Rockwood's proposed scheme of arrangement. 
Neither this release nor the proposal constitutes a public proposal under 
section631 of the Australian Corporations Act 2001 by Tianqi or Windfield to 
make a takeover bid for securities in any company. 
An early warning report will be filed on SEDAR and will be available for 
review at www.sedar.com under Talison's profile. 
Tianqi's financial adviser is RedBridge Grant Samuel, its tax and accounting 
adviser is PricewaterhouseCoopers, and its legal advisers are Linklaters and 
ZhongLun in China, Allens in Australia and Stikeman Elliott in Canada. 
Further Information About Tianqi: 
Tianqi is a privately held Chinese company founded in 2003. Its business 
activities are primarily conducted through the following subsidiaries: 


    --  Sichuan Tianqi Lithium Industries, Inc. - a Chinese company
        listed on the Shenzhen Stock Exchange, engaged in the
        production of lithium carbonate and other lithium products from
        chemical-grade lithium concentrates sourced from Talison;
    --  Sichuan Tianqi Industry Co., Ltd. - a distributor of technical
        grade lithium concentrates, as the sole distributor for Talison
        in China;
    --  Chengdu Tianqi Machinery - provides spare parts and accessories
        for machinery and electrical equipment used in the
        construction, packing and agriculture sectors; and
    --  Chengdu Sendasun Agricultural Machinery Co., Ltd. - undertakes
        research, development, manufacturing and sales of agricultural
        equipment.

Tianqi and its subsidiaries conduct their operations mainly from China, but 
have customers, business partners and suppliers in various countries around 
the world, including Europe, Australia, the United States and Japan.

More information about Tianqi is available from the following website: 
www.tianqigroup.cn/en/Index/aboutus.html

Australia Greg Baxter, Kreab Gavin Anderson +61 2 9552 4499 +61 419 461 368 
GBaxter@kreabgavinanderson.com

Canada Joshua Goldman-Brown, Kreab Gavin Anderson +1 646 490 2767 
jgoldman-brown@kreabgavinanderson.com

SOURCE: Chengdu Tianqi Industry Group Co., Ltd

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CO: Chengdu Tianqi Industry Group Co., Ltd
ST: Ontario
NI: AGR MNA 

-0- Nov/21/2012 16:42 GMT


 
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