Albar & Partners and Cleary Gottlieb Steen & Hamilton are advising Malaysian palm oil firm Felda Global Ventures Holding (FGVH) on what is expected to be the world's second-largest IPO this year after Facebook, according to a prospectus exposure published on the Securities Commission website.
Albar & Partners is acting as legal adviser to the company on Malaysian law and for the IPO, while Cleary Gottlieb Steen & Hamilton is acting as legal adviser to the company on U.S. and English law. Azmi & Associates, meanwhile, is conducting due diligence for FGVH. Also, Adnan Sundra & Low and Linklaters Allen & Gledhill are acting as legal advisers to the joint bookrunners CIMB, Maybank, Morgan Stanley, Deutsche Bank and JP Morgan.
According to Reuters, agribusiness giant Louis Dreyfus has been asked to be a cornerstone investor in the IPO. Officials at FGVH, the commercial arm of Malaysia's Federal Land Development Authority (FELDA), reportedly invited Louis Dreyfus to take a 4.9 percent stake in the firm ahead of the company's $3 billion IPO in June. Based on the 4.65 ringgit-per-share offering announced by the government, the 4.9 percent stake could be worth at least 800 million ringgit ($261.69 million).
Louis Dreyfus is one of the world's four dominant agribusiness companies along with Archer Daniel Midland Co, Bunge and Cargill. ALB
Ranajit Dam is Southeast Asia Editor at ALB. Follow him on Twitter: @RanajitDam_ALB.
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