find the latest legal job
Part Time Risk & Compliance Officer
Category: Other | Location: Brisbane QLD 4000
· Brisbane City · Flexible Part Time Hours
View details
Infrastructure Lawyer/SA
Category: Construction Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Global elite law firm · Dedicated Infrastructure team
View details
Property Lawyer
Category: Property Law | Location: All Melbourne VIC
· 12 Month Contract · Diverse Work
View details
Family Lawyer
Category: Family Law | Location: Eastern Suburbs Melbourne VIC
· Boutique Firm · Great Reputation
View details
Infrastructure Lawyers
Category: Construction Law | Location: All Perth WA
· We'd be particularly interested to hear from you if you were a lawyer who knows your way around the infrastructure and energy sectors.
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
Violence
Nov 17 2017
It's time for politicians to commit to eradicating domestic violence
The national shame of domestic violence cannot be left unaddressed, writes Christine Smyth. ...
Nov 16 2017
From lawyer in law firm to senior governance professional
Promoted by Governance Institute of Australia As a law graduate, Kate Griffiths never imagined...
marriage equality
Nov 16 2017
Legislation the next hurdle for marriage equality
Lawyers have underscored the importance of ensuring same-sex marriage legislation does not limit ant...
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 & ...