SANTIAGO (Reuters)-
Chile's antitrust court on Thursday approved an agreement between Chilean regulators and the company, allowing the Chinese miner to buy a near
Quarterly stake in lithium producer SQM.
On September, Chile's antitrust regulator FNE and apocalypse filed the agreement with Chile's antitrust court to limit the exchange of commercially sensitive information between the two companies.
Approved by five countries.
Unconditional member court
"The approval of this out-of-law agreement does not prevent a third party with a legitimate interest from considering the facts in this agreement. . .
In a statement to Reuters, the court said: "It affects free competition and does not take any action that they think is most appropriate . ".
The agreement states that apocalypse cannot disclose the names of any of its executives or employees to SQM's board of directors and requires Chinese miners to notify regulators of any future matters
The agreement reached with Yabao square meters or opponents.
In a statement, Tian said the deal ensured competition in the lithium market would remain.
"With this resolution, we expect the deal to be completed by 2018, given the timeline," said Tianqi . ".
SQM objected to the deal on the grounds that it did not do its best to limit Apocalypse's access to company secrets and sensitive information, but did not immediately respond to requests for comment.
Chile's anti-monopoly regulator launched an investigation on June after Apocalypse said it would buy 24% of its shares for $4.
1 billion, giving it a coveted stake in one of the world's top lithium producers, lithium, a key component of the battery that powers everything from mobile phones to electric cars.
The Chinese government is actively promoting electric vehicles to deal with air pollution and help domestic automakers build global brands beyond internal combustion engines.