White & Case Advises European Lithium on its US$838 Million Business Combination with Sizzle Acquisition Corp

Global law firm White & Case LLP has advised European Lithium AT (Investments) Limited, a wholly owned subsidiary of European Lithium Ltd (ASX: EUR), on its entry into a US$838 million definitive agreement for a business combination with Sizzle Acquisition Corp (Nasdaq: SZZL), a special purpose acquisition company. The business combination will result in the formation of Critical Metals Corp., which is expected to be a leading lithium mining company. Upon the closing of the transaction, Critical Metals is expected to become a publicly listed company on Nasdaq under the ticker symbol "CRML."

Upon closing of the business combination, Critical Metals will own European Lithium’s Wolfsberg Lithium Project, which is currently owned by European Lithium’s wholly owned subsidiary, European Lithium AT, as well as a 20 percent interest in additional Austrian projects currently held by European Lithium. The Wolfsberg Lithium Project, which is expected to become the first licensed lithium mine in Europe, will be the region’s first major source of lithium concentrate, filling a critical gap in the European EV battery supply chain. Based on a pre-feasibility study, the mine is expected to supply approximately 70,000 metric tons of lithium concentrate annually starting in 2025, which is enough material to power approximately 200,000 EVs per year.

The cross-disciplinary and cross-jurisdictional White & Case team was led by M&A partner James Hu in New York and Capital Markets partner Jason Rocha in Houston, with support from Mining & Metals partner Oliver Wright (New York). 

The team also included M&A associates Alex Liebers, Bridget Costello, Annabelle Healey, Pratyusha Srikakulam and Ren-Ann Wang (all in New York); Capital Markets associates Stephen Perry, Bryson Manning and Steven Amrein (all in Houston); US Public Company Advisory partner Maia Gez and counsel Melinda Anderson (both in New York); Employment, Compensation & Benefits partner Henrik Patel, and associates Peter Shelburne (both in New York) and Sadi Morandi (Houston); Technology Transactions partner Linda Sim (Los Angeles), and associates Samuel Morris and Stanley Yu (both in Silicon Valley); Data, Privacy and Cybersecurity partner F. Paul Pittman (Washington, DC) and associate Katherine Madriz (Boston); Tax partner David Dreier and associate Adriana Zhan (both in New York); Real Estate partner Steven Lutt (New York); Antitrust partners Rebecca Farrington (Washington, DC), Tilman Kuhn and Thilo Wienke (both in Düsseldorf) and associate Gabriela Baca (Washington, DC); White Collar partner Maria Beguiristain and associate Arianna Skipper (both in Miami); Trade partner Cristina Brayton-Lewis (Washington, DC) and associate Joyce Adetutu (Houston).

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