October 11, 2018 / 8:07 PM / a year ago

Chilean court suspends sale process to Tianqi of lithium miner SQM

SANTIAGO, Oct 11 (Reuters) - Chile’s Constitutional Court on Thursday admitted a lawsuit to block a deal allowing the sale of a coveted stake in lithium producer SQM to China’s Tianqi Lithium Corp, temporarily suspending the transaction.

The lawsuit, filed by SQM’s controlling shareholder, alleges that Chile’s antitrust court failed to follow due process when it approved a settlement between Tianqi and Chilean regulators allowing the Chinese miner to purchase a 24 percent stake in the world’s No. 2 producer of lithium.

The court said arguments in the case would be heard on Oct. 22. (Reporting by Dave Sherwood; editing by Jonathan Oatis)

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