LG Energy Solution Sells Stake in Australian Lithium Firm, Securing 80 Billion Won
LG Energy Solution has secured a profit of approximately 80 billion won by selling its equity stake in Australian lithium company Liontown.
LG Energy Solution announced on the 26th through the Australian Securities Exchange (ASX) that it had sold all 239.46 million shares of Liontown it had held.
In July 2024, the company invested 250 million dollars in Liontown convertible bonds to secure a stable lithium supply chain, and later converted these bonds into shares.
Through this sale, the company has realized an investment gain of around 80 billion won.
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The company had made the investment by utilizing a loan from the government’s Supply Chain Stabilization Fund at the time, and it plans to use the proceeds from this sale to repay the borrowing.
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