Allens has advised Nordzucker AG on its A$120 million equity and debt investment to obtain a 70% shareholding in Mackay Sugar Limited.
Nordzucker AG is one of Europe's leading sugar producers and Mackay Sugar Limited is Australia's second largest sugar mill owner with three operating raw sugar mills, interests in sugar refining through its 25% interest in Sugar Australia Joint Venture, and other interests in cane growing and sugar terminals businesses.
The transaction will recapitalise Mackay Sugar and allow it to undertake significant investment in its mills.
John Hedge, lead M&A Partner, said 'We were very pleased to advise Nordzucker on this transaction as their first investment outside of Europe and their first investment in the sugar cane industry. Agribusiness is a pillar of the Australian economy, a growth sector, and an important part of our firm's practice'.
The deal completed on 31 July 2019.
Allens core legal team
John Hedge (Partner); Richard Kriedemann (Partner and Agribusiness Sector Leader); Michaela Moore (Senior Associate); Ben Smallwood (Senior Associate) and Luca Masinello (Associate)
Key specialist support
Gobind Kalsi (Managing Associate) – Planning and Environment; and John Naughton (Senior Associate) – Employment and Safety
Notes for editors.
Allens is a commercial law firm working throughout Australia and Asia. Through its integrated alliance with Linklaters it provides clients access to 40 offices in 28 countries around the world.