Automotive manufacturers VW and Stellantis have partnered with mining house Glencore and mining investment fund La Mancha to acquire two nickel mines in Brazil for a total investment of $1 billion. The deal is being carried out through ACG, a special purpose acquisition company (SPAC), which will purchase the mines from private equity funds advised by Appian Capital. As part of the deal, ACG will become ACG Electric Metals and issue new shares, giving Stellantis, Glencore, and La Mancha a total ownership share of 51% between the three of them, while the remaining 49% will be free-floating. Stellantis, Glencore, and La Mancha will all make equity investments of $100 million while Volkswagen’s PowerCo will make a $100 million prepayment for…