MELBOURNE, March 2 (Reuters) - CATL 300750.SZ , the world's largest battery maker, has sold its nearly 5% stake in Australian lithium producer Pilbara Minerals Ltd (PLS) for A$601 million ($405.86 million), according to a term sheet seen by Reuters on Thursday.
CATL bought its 4.9% stake for A$0.30 cents a share in the depths of the 2019 lithium downturn, before offering the stake, representing 146 million shares, to the market at A$4.10 each. Goldman Sachs and UBS are bookrunners.
That has netted CATL A$554.8 million ($374.66 million).
($1 = 1.4808 Australian dollars)
News: PLS China's CATL sells its stake in Australian lithium producer Pilbara
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