Ganfeng Lithium Industry: Shanghai Ganfeng formally offered to acquire Bacanora Company

Ganfeng Lithium Industry (01772) announced that recently, the company has received notice from Shanghai Ganfeng that Shanghai Ganfeng has formally issued a legally binding offer for all issued shares of Bacanora. The offer still requires Bacanora shareholders to go through the acceptance process.

Prior to the completion of this offer, Shanghai Ganfeng held 28.88 per cent of Bacanora; if the offer is successful, Shanghai Ganfeng will eventually control Bacanora, holding no more than 100 per cent of the company, depending on the outcome of the acceptance process carried out by Bacanora shareholders.