On June 6, 2022, Pallinghurst Lithium Limited, a UK-based private investor in the global natural resources sector, completed the exchange of its indirect 25 percent ownership interest in Québec-based Nemaska Lithium Inc. to Livent Corporation for shares of Livent.

Livent issued 17,500,000 shares of its common stock to The Pallinghurst Group and its investors to acquire their half of Québec Lithium Partners (QLP). Livent already owned the other half of QLP. 

Following closing, Livent has doubled its ownership stake in Nemaska to 50 percent while Investissement Québec remains the owner of the remaining 50 percent interest.

Davies Ward Phillips & Vineberg LLP acted for Pallinghurst on the transaction, with a team that included Melanie Shishler, Dale Osadchuk and Joseph DiPonio (Corporate/Mergers and Acquisitions); and Christopher Anderson and Marc André Gaudreau Duval (Tax).

Davis Polk LLP and Dentons Canada LLP represented Livent.