Reuters broke the news that Brazilian private equity firm IG4 Capital was bidding to buy key stakes in holding companies that control Chilean lithium miner Sociedad Quimica y Minera de Chile, known as SQM. If longtime SQM stakeholder Julio Ponce agrees to the approach, IG4 will become one of the largest shareholders in SQM, the world’s No. 2 lithium producer, alongside Ponce.
Reuters first with news Brazil’s IG4 bidding to become a top shareholder in Chilean miner SQM; market reacts
Shares in the three holding companies for which IG4 plans to launch tender offers as part of the bid surged after the story was published, with Norte Grande SA jumping 8.3%, Sociedad de Inversiones Oro Blanco soaring 10.1% and Sociedad de Inversiones Pampa Calichera up 8.7%.