Engine No. 1 LP cancelled the acquisition of 3% stake in Energy Transition Metals business of Vale S.A..
The transactions are subject to customary conditions precedent, the approval of relevant regulatory authorities, including the approval of the relevant antitrust and are expected to close in first quarter of 2024. As of April 19, 2024, the transaction is expected to occur in the second quarter of 2024. These transaction will see strategic investments as a major milestone in our path to accelerate accretive growth in our Energy Transition Metals business platform, creating significant long-term value to all of our stakeholders.
Kyle M. Watson, Chris Heasley, Luci Hague, Mark Dundon and Alexander Cox, Sara Pickersgill, Victoria Legg, Hayley L. Hollender, Kamran S. Bajwa of Kirkland & Ellis LLP acted as a legal advisor to Engine No. 1 LP.
Engine No. 1 LP cancelled the acquisition of 3% stake in Energy Transition Metals business of Vale S.A. (BOVESPA:VALE3) on April 30, 2024. As of April 30, 2024, following further negotiations in recent months, both sides have agreed not to move forward with the previously agreed terms and conditions but remain open to future partnerships.