find the latest legal job
Senior Associate - Competition, Policy & Regulatory
Category: Other | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Work with a well regarded Partner · Sydney CBD
View details
Commercial Litigation Senior Associate
Category: Litigation and Dispute Resolution | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Lawyers Weekly Australia Partner of the Year 2016, Insolvency
View details
MULTIPLEX Regional Legal Counsel (Vic) | 7 to 10 years + PQE
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Career defining in-house role · Tier One international contractor
View details
Junior Lawyer - Personal Injury Law
Category: Personal Injury Law | Location: Parramatta & Western Suburbs Sydney NSW
· Highly specialized practice · Challenging role with great opportunities
View details
IR Advisor/Member Advocate
Category: Industrial Relations and Employment Law | Location: St Leonards NSW 2065
· Permanent (0.8-1.0 FTE) role in a developing team
View details
Grain industry deal proposed

Grain industry deal proposed

John Williamson-Noble, Gilbert+Tobin

Multiple firms have advised on a consortium’s proposal to corporatise a Western Australia-based grain storage, handling and marketing co-operative.

Firms: Gilbert + Tobin (Consortium comprising Australian Grains Champion, GrainCorp and HRL Morrison & Co); Allens (HRL Morrison & Co); Jackson McDonald (Australian Grains Champion)

Deal: A consortium led by Australian Grains Champion has proposed the corporatisation of Co-operative Bulk Handling Ltd (CBH).

Value: $600 million

Area: M&A and banking and infrastructure

Key players: The Gilbert + Tobin team was led by corporate advisory partners John Williamson-Noble (pictured), Tim Gordon and Sarah Turner, and banking and infrastructure partner John Schembri. The team also included lawyers Rachel Jones and Chris Morse.

Deal significance: A consortium led by Australian Grains Champion (AGC), also comprising GrainCorp and HRL Morrison & Co, has proposed the corporatisation of CBH, a Western Australia-based grain storage, handling and marketing co-operative.

The proposal involves the conversion of CBH from a co-operative into a company and the acquisition by AGC of 100 per cent of the shares in CBH by way of a co-operative scheme of arrangement, for shares in AGC and a $600 million cash payment to grower members of CBH.

AGC will fund the proposed $600 million cash payment to CBH grower members by way of the issue of $300 million of convertible notes to HRL Morrison & Co and $300 million of notes to GrainCorp.

If the proposal is successful, AGC will also issue to GrainCorp an option to subscribe for an additional $300 million of shares in AGC.

The proposal is subject to the satisfaction of conditions including a successful CBH grower member vote.

Gilbert + Tobin lead partner John Williamson-Noble said: “We’re pleased to have been involved in this industry-shaping deal which presents Western Australian growers with the opportunity to capitalise on their investment in CBH through an immediate cash return and the holding of shares in a corporatised CBH, while delivering opportunities for GrainCorp’s shareholders and the Australian agricultural industry.”


Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Grain industry deal proposed
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Debate, same-sex marriage, Law Society
Sep 21 2017
Law Society acknowledges ‘diversity of opinion’ on same-sex marriage
The council of the Law Society of NSW has said it respects the diverse views of its members on same-...
Scales of Justice
Sep 21 2017
Victoria considers legalising euthanasia
A change in law to allow voluntary assisted dying in Victoria will be considered by the State Parlia...
Old woman
Sep 21 2017
Federal government ignoring elder abuse crisis, lawyer says
A Queensland lawyer has called on federal politicians to follow the lead of the Queensland governmen...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...