Login
Firm scoops Nufarm double deal
Arnold Bloch Leibler has acted for Nufarm Limited in relation to the strategic investment in Nufarm by Sumitomo Chemical Company Limited, a Japanese publicly listed company._x000D_
The New Lawyer
ARNOLD Bloch Leibler has acted for Nufarm Limited in relation to the strategic investment in Nufarm by Sumitomo Chemical Company Limited, a Japanese publicly listed company.
The firm has also acted for the company in relation to its subsequent AU$250 million equity capital raising. The deal follows the completion of the successful tender offer to all Nufarm shareholders by Sumitomo, which acquired a 20 per cent interest in ABL’s client’s issued capital. Valued at approximately AU$600 million, the investment creates a strategic relationship between Nufarm and Sumitomo, ABL said. ABL offered strategic advice, and undertook the preparation and negotiation of various agreements and other documents, the preparation of a Notice of Meeting and Explanatory Memorandum for a general meeting of Nufarm shareholders, and ongoing legal and commercial advice. Following the completion of the tender offer, Nufarm undertook a AU$250 million renounceable rights issue for all eligible Nufarm shareholders, including Sumitomo. This entitlement offer was fully underwritten by UBS AG, Australia Branch. The strategic investment in Nufarm by Sumitomo comes after the rejection by Nufarm’s board of an offer by Chinese state-owned company, Sinochem Corporation, to acquire all the issued capital in Nufarm by way of scheme of arrangement. ABL also acted for Nufarm in relation to the proposed scheme with Sinochem. The matter was conducted by Arnold Bloch Leibler partner Jonathan Wenig and lawyers David Shafer, Jeremy Lanzer and Jason van Grieken.
