MELBOURNE, March 2 (Reuters) - CATL , the
world's largest battery maker, has sold its nearly 5% stake in
Australian lithium producer Pilbara Minerals Ltd for
A$601 million ($405.86 million), according to a term sheet seen
by Reuters on Thursday.
CATL bought its 4.9% stake for A$0.30 cents a share in the
depths of the 2019 lithium downturn, before offering the stake,
representing 146 million shares, to the market at A$4.10 each.
Goldman Sachs and UBS are bookrunners.
That has netted CATL A$554.8 million ($374.66 million).
($1 = 1.4808 Australian dollars)
(Reporting by Scott Murdoch in Sydney and Melanie Burton in
Melbourne; Editing by Muralikumar Anantharaman)
+613 9286 1421; Reuters Messaging:
melanie.burton.thomsonreuters.com@reuters.net))
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