Recent interest in Australian commodities is continuing pace. Leading agrochemicals producer, Sinochem, proposes to take over all of Australia’s Nufarm issued ordinary shares for US$2.44bn in its move to further globalise its farm chemical business. The deal is subject to approval from regulators in both China and Australia, Nufarm shareholders and the Australian court.
Partner of Blake Dawson’s Melbourne office and recognised M&A expert, Marie McDonald, is leading the team advising Sinochem, while Arnold Bloch Leibler’s Jonathan Wenig is representing Nufarm, a world-leading crop protection company. Sinochem and Nufarm are being advised on the finance side by the Royal Bank of Scotland and UBS respectively. At this time, news of PRC firm involvement has not yet been released.
“Nufarm is a longstanding client of ABL and the firm has acted in a range of matters on its behalf,” Wenig said.
The exclusivity period, which ends on 3 December, will allow Sinochem to conduct due diligence over five weeks. Sinochem Group is a state-owned enterprise with core businesses in energy, agriculture, chemicals, finance and real estate. The company generates revenues of more than US$4bn.
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