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Sev.en acquires Australia Salt Lake Potash
International law firm Baker McKenzie has advised Sev.en Global Investments on its acquisition of Australia Salt Lake Potash (ASLP).
Emma Musgrave
Firms: Baker McKenzie (Sev.en Global Investments); Undisclosed (Salt Lake Potash).
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Deal: Sev.en Global Investments (Sev.en) has acquired Australia Salt Lake Potash (ASLP) from Salt Lake Potash.
Value: Undisclosed.
Area: M&A.
Key players: The Baker McKenzie team was led by Lucas Tyszkiewicz and Gavin Rakoczy and included Charlie Detmold, Samuel Allam, Louis Re-Matthews, Angus Kingston and Taylor Owens.
Deal significance: Sev.en is described as a family office investment group based in the Czech Republic, which targets restructuring and growth opportunities across various industries worldwide. It is a long-term investor and the acquisition of ASLP is part of the strategy to broaden its portfolio in mining and energy.
Meanwhile, ASLP “is engaged, through its wholly owned subsidiary, Piper Preston, in the development of the flagship Lake Way potash project,” a statement from Baker McKenzie said.
“The Lake Way potash project is a large sulphate of potash project located in the Northern Goldfields region in Western Australia, which is expected to produce approximately 200 thousand tonnes of sulphate of potash per annum — making it the largest potash producer in Australia and south-east Asia.”
Commenting further, Baker McKenzie partner, Lucas Tyszkiewicz, said: “Baker McKenzie is proud to have advised Sev.en with this significant investment in ASLP and its flagship Lake Way potash project. We look forward to continuing to work with Sev.en as it brings the Lake Way potash project into operation”.
Baker McKenzie partner, Gavin Rakoczy, added: “The agreement on the sale with KordaMentha is one of the more significant turnarounds in Australia in 2022 and follows a competitive and lengthy acquisition process. Our cross-disciplinary team navigated the various legal and operational challenges around the Lake Way potash project to secure the asset for Sev.en.”
