The Latest SPAC News and Rumors: July 6, 2023
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: ACG Acquisition receives Brazil antitrust approval for mine acquisition, and GEM to fund European Lithium’s development of Austrian mine
ACG Acquisition notes Brazil antitrust approval for mines acquisition
ACG Acquisition Co Ltd (LON: ACG) on Thursday said the Brazilian antitrust authority unconditionally approved its acquisition of mines in Brazil.
The special purpose acquisition company, which is looking to benefit from favorable price conditions for new economy metals and other mining materials, said the Conselho Administrativo de Defesa Economica approval was one of the conditions to closing the acquisition.
READEuropean Lithium says Luxembourg’s GEM to fund USD 125 mln for Austrian mine, supply deal with BMW
European Lithium said Luxembourg’s alternative asset manager GEM will fund its unit for the development of Europe’s largest lithium mine, Wolfsberg in Austria, which has a supply deal with German automaker BMW AG.
Under the terms of the facility, the unit, Critical Metals would have access to draw down up to $125 million through the issuance of new shares directly to GEM Global Yield LLC over a three year period.
The company spun off its project in a proposed deal with Sizzle Acquisition Corp. last year to form Critical Metals.
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