Highlight 27 July 2021

Krogerus advises Jervois on its acquisition of Freeport Cobalt

Krogerus advises Jervois Mining Limited, a leading cobalt company listed on the Australian Securities Exchange (ASX), on its acquisition of Freeport Cobalt, the Finland-based cobalt refining and specialty products business. The acquisition has the potential to transform Jervois into the second largest producer of refined cobalt outside China. Following the acquisition, Jervois will be diversified across multiple products and value chain segments with significant relevance to leading cobalt producers and end-users.

The base consideration for 100% of the shares in Freeport Cobalt is USD 160 million, with a possibility of an earn-out payment of up to USD 40 million over the next 4 years. The transaction is expected to close at the end of August 2021.

The Krogerus team was led by Partner Jan Johanson. He was mainly assisted by Senior Associate Anna Metso and Associates Anna Salokangas, Juho Lakkala, Elina Mäkelä, Eveliina Tanskanen and Sonja Sivén.

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