Marval O’Farrell Mairal has assisted Stellantis in an investment in Argentina Litio y Energía, as well as an additional investment in McEwen Copper.
The first transaction involved entering into an investment agreement to acquire shares in Argentina Litio y Energía, a local company in charge of the development of lithium projects in Argentina. The parties also entered into a shareholders’ agreement governing that relationship and an agreement to regulate Stellantis’ rights to purchase lithium effective from 2028, when lithium production is expected to commence. The contributions from the transaction will essentially be used to advance the development of lithium projects under the responsibility of Argentina Litio y Energía.
The second transaction involved the execution of an additional share subscription agreement in the Canadian company McEwen Copper, current owner of the Los Azules copper project in the Province of San Juan, through a significant investment to be applied to the project developed by its Argentinean subsidiary. In addition, certain existing agreements on Stellantis’ rights to acquire copper in the future were amended. In this way, Stellantis remains the second largest shareholder in the project and secures part of the sustainable copper supply from the Los Azules mine.
The Argentina Lithium and Energy transaction involved complex agreements under the rules of different jurisdictions (New York, Canada and Argentina), while the McEwen Copper transaction also involved different jurisdictions and legislation.
Both investments were made under the framework of Stellantis’ strategic plan “Dare Forward 2030” to invest in major copper and lithium production projects in Argentina, essential inputs for the mobility challenges of the future.
Marval’s team was led by partners Diego Krischcautzky (pictured left) and María Macarena García Mirri (pictured right), and was supported by associates Lucía Diana Trillo, Diego Di Leonforte, Agustín Hernán Queirolo and Victoria Morelli for the Argentina Lithium and Energy investment; while associates Lucía Diana Trillo, Salvador Muttini, María Victoria Guerricagoitía and Martina Portis assisted with respect to the McEwen Copper investment.