Weil advised Glencore Canada Corporation (a subsidiary of Glencore plc) and certain of its affiliates on its acquisition of substantially all of the assets of Li-Cycle Holdings Corp. and its subsidiaries in connection with Li-Cycle’s CCAA proceedings in Canada and chapter 15 recognition proceedings in the United States, and its debtor-in-possession financing. 

The transaction represents a significant consolidation in the battery recycling sector, with mining giant Glencore expanding its presence in the battery materials supply chain. The deal includes Li-Cycle’s battery recycling facilities in the United States, Germany and Canada. The deal also includes Li-Cycle’s Rochester Hub project and intellectual property portfolio.

The Weil team was led by Mergers & Acquisitions partner Mariel Cruz, Banking & Finance Co-Head Justin Lee and Banking & Finance partner Brendan Conley, and Restructuring Co-Chair Matt Barr and Restructuring partner Chase Bentley. The team also includes Mergers & Acquisitions partner Eoghan Keenan, counsel Christina De Vuono, and associates Alan Chan, Vincent Calderon, Jason Klig, Jess Serviss, Erin Bertens, Tanja Koivistoinen, Brendan Spagnuolo, Sidy Traore and Gabriel Rosen; Corporate counsel Karsten Krumm and Romain Letard, and associates Ludovic Grandi and Dennis Simon; Capital Markets partner Heather Emmel and associate Sakshi Sharma, Restructuring partner Matthias Eiden and associates Sean Sheng, Resilda Karafili and Loren Findlay; Banking & Finance counsel Evan Nichols and Thomas Zimmermann, and associates Dan Cruickshank, Hans-Christian Mick and Josef Matoussi; Head of M&A Tax and International and Cross-border Tax Devon Bodoh and associates Zachary Torres and Carlos Parra; Environmental partner Seth Kerschner and associate Graham McHenry; Real Estate attorney Leslie Smith and associates Lucas Kilravey, Matt Leheny, Tamar Ungar and Madison Furlotti; Technology & Intellectual Property partner Kane Wishart and associates Adeline Park and Brendan McNerney; and Public Company Advisory Group Co-Head Howard Dicker and partner Steven Bentsianov.