Glencore completes acquisition of Li-Cycle

Niederer Kraft Frey advised Glencore Canada Corporation (a subsidiary of Glencore plc) and certain of its affiliates on all Swiss law aspects in connection with its acquisition of substantially all of the assets of Li-Cycle Holdings Corp., Li-Cycle Europe AG as well as other subsidiaries in connection with Li-Cycle’s CCAA proceedings in Canada and chapter 15 recognition proceedings in the United States, and its debtor-in-possession financing. The deal includes Li-Cycle’s worldwide battery recycling facilities as well as its Rochester Hub project and intellectual property portfolio.

The transaction represents a significant consolidation in the battery recycling sector, with mining giant Glencore expanding its presence in the battery materials supply chain.

The NKF team was led by Transactions partners Philip Spoerlé and Adrian Koller, working with associate Manuel Hirlinger and junior associates Nina Lötscher, Manuel Constam and Selim Tisli (all Transactions), counsel Marc Vogelsang (Tax), counsel Livia Keller (Employment) and partner Fabiano Menghini (Real Estate).

Weil, Gotshal & Manges LLP acted as lead counsel to Glencore in this transaction.