Firms: Allens (Sinochem International Corporation)
Deal: Exclusive distribution agreement
Key players: Partners Kate Axup, Niranjan Arasaratnam and David Brewster led the deal together with Verity Quinn, special counsel
Deal significance: One of China's largest chemical suppliers, Sinochem International Corporation (Sinochem), entered an exclusive distribution agreement with the world leading herbicide manufacturer, US- based Monsanto, for agricultural-use glyphosate (known commercially as Roundup Weedkiller) in Australia and New Zealand. The deal, which was signed on 1 March, represents the Chinese state-owned enterprise’s first foray into the Australian market.
According to Axup, as well as acting on the exclusive distribution agreement with Monsanto, Allens provided associated corporate advisory work in connection with the establishment of Sinochem's Australian subsidiary.
“We are pleased that we were able to assist Sinochem to strike a deal with Monsanto to distribute Roundup Weedkiller,” Axup said.
“The deal will enable Sinochem to generate about 30 new jobs at its Melbourne office and could pave the way for it to develop a range of other products to accompany Roundup.”