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 partners Mariel Cruz and David Avery-Gee, 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 partners Sarah Flaherty and 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; Tax partner 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.