Baker McKenzie today announced it had advised Sev.en Global Investments (Sev.en) on the acquisition of Australia Salt Lake Potash (ASLP) from Salt Lake Potash.
ASLP is engaged, through its wholly owned subsidiary Piper Preston, in the development of the flagship Lake Way potash project. 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 Southeast Asia.
Sev.en is 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.
Baker McKenzie partner Lucas Tyszkiewicz commented: “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.”
Salt Lake Potash was listed on the Australian Securities Exchange with KordMentha appointed as receivers in October 2021.
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.