Critical Metals to Acquire European Lithium for $835 Million

Cleary Gottlieb represented Critical Metals Corp. (Critical Metals) in the signing of a letter of intent whereby Critical Metals proposed to acquire all of the outstanding shares of European Lithium Ltd. (European Lithium).

Under the proposed transaction, European Lithium shareholders will receive 0.035 shares of Critical Metals for each European Lithium share held (exchange ratio).

Based on the exchange ratio and considering the unaffected closing price of Critical Metals and the U.S. dollar to Australian dollar exchange rate on April 22, 2026 (the measurement date), the total aggregate consideration payable to European Lithium equity holders is approximately $835 million.

Critical Metals is a leading mining development company focused on critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its Western world partners.

For more information, please see the press release.

The Cleary M&A team included partners James Hu and Aaron Meyers and associate Nicholas DiStefano. Partner Jonathan Mendes de Oliveira and associate Natalia Rezai advised on capital markets matters.