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Deals 26 August
Clayton Utz represented Hong Kong Stock Exchange-listed CK Life Sciences International Group on its $7.2 million (HK$42m) acquisition of Nuturf Australia Pty Ltd, Australia’s largest supplier…
Lawyers Weekly
Clayton Utz represented Hong Kong Stock Exchange-listed CK Life Sciences International Group on its $7.2 million (HK$42m) acquisition of Nuturf Australia Pty Ltd, Australia’s largest supplier of turf management products and services. The transaction closed on 4 August, less than one week after the parties signed a formal Heads of Agreement. Clayton Utz corporate partner Peter Shaw led the firm’s team, which included partners Bruce Lloyd and Peter Knight providing competition and IT/IP law expertise respectively. Shaw said the nature of the acquisition made it a more complex transaction than usual.
Clayton Utz’s role involved advice on structuring and transitioning the existing business into a new entity, including establishing sales and supply arrangements. Nuturf is CK Life Sciences’ third acquisition in Australia in the past 18 months as the company pursues a major business expansion strategy.
Allen & Overy advised Sinochem Corporation and Sinochem Hong Kong (Group) Company Limited in relation to the restructuring of Sinochem Corporation’s fertiliser business, and the asset injection into and reverse takeover of Hong Kong-listed Sinochem Hong Kong Holdings Limited (Sinochem HK). The 5.44 billion new shares were listed on the main board of the Hong Kong Stock Exchange. The Allen & Overy team was led by head of the Asian corporate group Michael Liu, who was assisted by consultant Cathy Yeung, senior associate Albert Chak and associates Alice Wu and Eliza Wong. Preston Gates Ellis acted for Sinochem HK and Herbert Smith acted for Cazenove Asia Limited and Goldman Sachs (Asia) LLC, the joint sponsors, global coordinators and bookrunners.
