SolarBio Energy acquires local biotech firm for $100 million

SolarBio Energy have agreed to buy and takeover a smaller local Chilean biotechnology firm in a deal worth up to $100 million.

The transaction is likely to close in the third quarter of this year and is not expected to impact the SolarBio growth outlook. Growth prospects for lithium are better than any other market at the moment due to investors wanting to capture the upside potential from electrification of vehicles over the coming years.

The deal will give SolarBio access to further assets in the Atacama Desert, Chile, providing a low-cost base for lithium production and expanding to the size of the already existing Lithium operations.

Deal details

The biotechnology firms have agreed with the board members that the payment for the acquisition will be made in 4 monthly payments of $25 million. The merge will see heads of the smaller company standing down but the majority of the workforce will move over to SolarBio over the 4 month period.

A message from the CEO

In a interview with a local online media company the CEO said. “We are delighted with this deal and the whole company are excited to have merged with such a hard working and dedicated team. Together we can push this company to be one of the top lithium suppliers in Chile.”

Back To News

Get In Touch

Email Address: | Phone Number: +56 227 533 817
Head Office Location: 90 Orinoco Street, Las Condes, Santiago, Región Metropolitana 7560968, Chile