Albemarle seeks to sell Liontown stake after failed bid

US-based Albemarle has offered the roughly 96 million shares it holds in Liontown for around A$121mil. — Reuters

SYDNEY: Albemarle is trying to sell its stake in Australia’s Liontown Resources, a term sheet shows, three months after Australia’s richest person blocked its A$6.6bil (US$4.3bil) bid for the lithium developer.

US-based Albemarle, the world’s largest lithium producer, has offered the roughly 96 million shares it holds in Liontown for around A$121mil in a block trade run by JPMorgan, the term sheet showed.