Ponce Lawsuit Delays Nutrien's SQM Equity Stake Sale to Tianqi, but We Think the Deal Will Get Done
On Oct. 11, SQM's largest shareholder, Julio Ponce, who owns around a 37.5% equity stake, filed a lawsuit that delayed the sale of Nutrien's 24% equity stake in SQM to Tianqi Lithium. The deal had been approved by the Chilean anti-trust court a week earlier, which was the last remaining regulatory barrier for the deal to close. On Oct. 22, a five-judge panel will hear arguments from lawyers for all parties involved and could either dismiss the lawsuit or call for a full hearing at a later date....
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