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Druces advises EV Metals Group on its acquisition of Johnson Matthey’s Battery Materials business

City of London law firm, Druces has advised EV Metals Group PLC (“EVM”) on its acquisition of Johnson Matthey Plc’s (“JM”) European Battery Materials business for a total consideration of £50 million in cash and a minority equity stake in EV Metals.

The acquisition includes the assets at the Battery Technology Centre in Oxford, the Battery Technology Centre and pilot plant in Billingham, the Battery Technology Centre in Moosburg, Germany and the Konin CAM Plant in Poland (under construction).

The landmark deal for EVM will complete their integrated supply chain, which includes in-situ resources in Western Australia, processing capacity at the integrated Battery Chemicals Complex being developed in Saudi Arabia and now the production of Cathode Active Materials. The acquisition ideally places EVM to engage with electric vehicle and battery cell manufacturers in a European market facing a significant deficit in key battery materials.

The deal also includes ongoing development of JM’s eLNO® technology, a superior advanced cathode material enabling electric cars to travel further on a single battery charge.

Druces Corporate Partner, Dominic Traynor, led the Druces team which also included Neil Pfister (Partner, Corporate), Adrian Footer (Partner, Real Estate), Mark Lamph (Associate, Corporate), Kajal Sachania (Associate, Corporate) and Tom Rawe (Associate, Real Estate). The team worked alongside international law firm White & Case.

Dominic Traynor commented: 

“We are absolutely delighted to advise EVM on this strategic and important acquisition in the EV supplies sector. The sector is attracting significant growth with electric vehicle and battery cell manufacturers in the European market facing a significant deficit in key battery materials. I would like to thank EVM for entrusting us to be their adviser on this exciting opportunity. We look forward to working with EVM again on their future transactions.”

Michael Naylor, Managing Director and Chief Executive Officer of EVM, said: 

“The acquisition of the Battery Materials Business is a strong strategic fit for EV Metals Group. It includes world class, leading people and technology for the production of cathode active materials. We thank the Druces team whose commitment and support, as an integral part of our team, delivered an important result for our shareholders and helped position EV Metals Group as a new force in the EV supplies market.”

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