AcquisitionsApr 27, 2026, 08:31 AM
CRML to Acquire European Lithium for ~$835M; Consolidate Tanbreez
AI Summary
Critical Metals Corp. (CRML) announced a letter of intent to acquire all outstanding shares of European Lithium Ltd. (ASX: EUR) for approximately US$835 million. European Lithium shareholders will receive 0.035 shares of Critical Metals for each share held. The proposed transaction aims to minimize dilution by canceling European Lithium's 34% stake in Critical Metals, consolidate 100% ownership of the Tanbreez Rare Earth Project, and fortify Critical Metals' balance sheet with European Lithium's AUD$306 million cash.
Key Highlights
- CRML proposes to acquire European Lithium for approximately US$835 million.
- European Lithium shareholders to receive 0.035 shares of CRML for each share held.
- European Lithium owns 34% of CRML's outstanding shares, valued at US$540 million.
- CRML intends to cancel cross-holding shares, reducing dilution and increasing public float.
- European Lithium has AUD$306 million (US$219 million) cash as of March 31, 2026.
- CRML's standalone cash balance is approximately US$124 million.
- CRML will consolidate 100% ownership of the Tanbreez Rare Earth Project.
- Proposed transaction expected to be completed in the second half of 2026.