Orocobre (ASX:ORE) acquisition approved

Company News

by Ortenzia Borre

The Orocobre (ASX:ORE) acquisition of Canadian lithium developer Advantage Lithium is set to be completed after the company was given approval for the takeover by Advantage shareholders.

The Arrangement remains subject to approval by the Supreme Court of British Columbia which is currently scheduled to hear an application on 16 April, 2020.

Under the terms of the Arrangement Advantage shareholders will receive 0.142 shares of Orocobre per Advantage share.

Shares in Orocobre (ASX:ORE) are trading 2.2 per cent lower at $2.19.