$1 Billion SPAC Deal Highlights Industry Shift

Network AssociationBehind the Wheel
Written By Jennifer Joslyn

💰 $1 Billion SPAC Deal Highlights Industry Shift.

Appian Capital Advisory has successfully sold the Santa Rita nickel mine and Serrote copper-gold project in Brazil for a total of $1.065 billion. The sale highlights Appian's investment philosophy of applying long-term value investing principles to the cyclical mining industry. The transaction was facilitated by ACG, a special purpose acquisition company (SPAC), and involved various components such as royalties, equity and debt, off-takes, and locked boxes. The deal brings together mining and auto-making giants, including Glencore, La Mancha, Stellantis, Powerco, and Volkswagen's battery maker. The acquisition aligns with car companies' strategic objectives of securing long-term supplies of metals for electric cars and ensuring end-to-end supply chain visibility.

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Jennifer Joslyn
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