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Li-Cycle Holdings Corp. (NYSE:LICYQ) has completed the sale of significant portions of its business to Glencore Canada Corporation, its largest secured creditor, through a credit bid and debt assumption process. The transaction includes Li-Cycle's Spoke facilities in Germany, Arizona, Alabama, New York, and Ontario, along with its Rochester Hub project and intellectual property portfolio.
The sale concludes Li-Cycle's court-approved sale and investment solicitation process under the Companies' Creditors Arrangement Act (CCAA) and Chapter 15 of the U.S. Bankruptcy Code. The remaining Li-Cycle entities will either be wound up or continue under creditor protection.
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