LG Energy selling its 7.5% stake in lithium firm Liontown, term sheet shows

Reuters14:51

UPDATE 1-LG Energy selling its 7.5% stake in lithium firm Liontown, term sheet shows

Adds details from term sheet

By Scott Murdoch

SYDNEY, Feb 25 (Reuters) - South Korea's LG Energy Solution 373220.KS is selling its 7.5% stake, or shares worth at least A$419 million ($297.99 million), in Australian lithium producer Liontown LTR.AX in a block trade, according to a term sheet.

The South Korean company is offering 239.5 million Liontown shares at a price range of A$1.75 to A$1.79 each, the term sheet that was seen by Reuters showed. The floor price is underwritten at A$1.75 and potential investors have been told to bid in A$0.01 increments.

LG Energy Solution and Liontown did not immediately respond to requests for comment.

The sale will result in LG Energy Solution no longer being a Liontown investor, according to the term sheet.

Liontown shares rose 9.37% on Wednesday to A$1.98, meaning the shares are being sold at a discount of between 9.8% to 11.8% to the closing price. The stock is up 26% so far in 2026.

LG Energy Solution is Liontown's third-largest shareholder behind mining billionaire Gina Rinehart's Hancock Prospecting and Liontown chairman Tim Goyder.

The final price is due to be set later on Wednesday, the term sheet said. Citigroup is the sole bookrunner on the block trade.

($1 = 1.4061 Australian dollars)

(Reporting by Scott Murdoch; Editing by Sonali Paul and Muralikumar Anantharaman)

((Scott.Murdoch@thomsonreuters.com;))

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