The acquisition will assist Mitsubishi in achieving its sustainability objectives
Allens has advised Mitsubishi Corporation on the acquisition of a 40 per cent interest in Australian Integrated Carbon Pty Ltd (AIC), a carbon farming developer who assists landholders in generating Australian carbon credit units.
AIC obtains carbon credits through human-induced regeneration, a process that involves CO2-sequestrations achieved in the regrowth of Australia's native forests.
The acquisition will assist Mitsubishi in achieving its sustainability objectives, which include 'transitioning to a low-carbon society' and 'growing together with local communities'.
Lead Partner, Penny Alexander said, 'We congratulate Mitsubishi on this significant transaction and are pleased to have worked with the organisation on a key investment that assists the company in achieving its environmental goals.'
Australian carbon farming continues to attract significant investment interest from private equity firms and major companies.
Allens legal team
Projects & Development:
Penny Alexander (Partner), Mark Leersnyder (Senior Associate), Zoe Barker (Lawyer)
Mark Malinas (Partner), Vincent Pang (Senior Associate), Tom Harrison (Associate), Erica Tan (Lawyer)
Funds, Super, Wealth:
Marc Kemp (Partner), Rebecca Sheehy (Senior Associate)
Disputes & Investigations (Employment & Safety):
Simon Dewberry (Partner), Veronica Siow (Partner), Courtney Logue (Lawyer)
Banking and Finance:
Warwick Newell (Partner), Sharon Carey (Associate)
Caroline Ryan (Partner), Nick Li (Senior Associate)