Longstanding Gowling WLG client Bacanora Minerals has acquired a 50% stake in SolarWorld Solicium GmbH in a joint venture with SolarWorld AG.
Bacanora, a Canadian-incorporated company, which is admitted to trading on both AIM and the TSX, utilised the experts of Gowling WLG’s UK and German offices to negotiate the deal. UK partner Charles Bond and principal associate Samantha Myers worked closely with partner Andreas Woelfle in Germany to agree the acquisition and joint venture documentation with SolarWorld’s board and legal counsel.
Dr Thomas Schoenfeld and Dr Matthias von Oppen, partners at German firm Lutz Abel, provided additional advice on mining and administrative law aspects and the team also had to secure agreement on all aspects of the joint venture from SolarWorld’s Qatari investors.
The €10m deal secures 50% of the Zinnwald lithium project.