ALLENS Arthur Robinson has advised Royal Ten Cate, a multinational textile technology and chemical company, on the sale of a 50 per cent joint venture interest to joint venture partner Noel P Hunt International worth $40 million.
The sale of the joint venture interest, which includes their Australian geofabrics business, brought together parties in jurisdictions such as the USA, the Netherlands, South Africa, Austria and Australia.
Allens advised long-time client TenCate on the deal, which was overseen by partner Steve Clifford, lawyers Adam Santa Maria and Jessica Choong and intellectual property partner Tim Golder,
According to Clifford: 'This was a challenging transaction involving different parties, time-zones and jurisdictions across the world, coupled with a range of complexities – including the need to get across 17 transaction documents in a tight time frame.”
The deal was completed within one week.