find the latest legal job
Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
View details
Chief Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Dynamic, high growth organisation · ASX listed market leader
View details
In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
· Help design the future · NASDAQ Listed
View details
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Hong Kong company invests in Kailis Bros

Hong Kong company invests in Kailis Bros


Two large firms have advised on Legend Holdings’ investment in an Australian seafood business.

Firms: Minter Ellison (Legend Holdings); King & Wood Mallesons (Kailis Bros) 

Deal: Legend Holdings Corporation completed an investment in a Kailis Bros business.

Value: Undisclosed

Area: M&A

Key players: Minter Ellison’s team was led by partner and China FDI Group leader Adam Handley (pictured) and special counsel Bryn Davis, who were supported by partner Gemey Visscher, executive director of the China FDI Group and special counsel Lili Pan, special counsel Tighe Whelan, associate Matthew Caddy and lawyer Su Ern Lee.

KWM’s team was led by Nigel Hunt.

Deal significance: On 31 March, Hong Kong-listed Legend Holdings Corporation completed its 90 per cent investment in the Kailis Bros Australian wholesale, processing and export seafood business.

With members of the Kailis family retaining 10 per cent and significant day-to-day operational involvement, the deal again highlights the benefit of China and Australia partnering in the agribusiness sector.

Legend Holdings is best-known for its IT business, including the brand Lenovo. It also has an agricultural arm called Joyvio, which is one of China’s biggest fruit companies.

This strategic investment reflects Legend Holdings' continuing commitment to expanding its agricultural business operations and the benefits that can flow from foreign partnership, according to Minter Ellison.

The strategic investment was the result of a lengthy competitive bid process and involved conducting detailed due diligence on the operations of the target business, and the negotiation of complex transaction documents.

Mr Handley said the success of the investment is another great example of cooperative long-term partnerships between China and Australia in the agricultural sector.

"As a foreign investor, Legend Holdings acknowledges the significant investment opportunities that exist within Australia's agribusiness market, and in particular the enormous opportunities for the newly capitalised business of Kailis Bros to develop and expand throughout Australia."

The investment was subject to Foreign Investment Review Board approval, which was obtained by Legend Holdings in February.

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

Hong Kong company invests in Kailis Bros
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
LCA president Fiona McLeod SC
Aug 17 2017
Where social fault lines meet the justice gap in Aus
After just returning from a tour of the Northern Territory, LCA president Fiona McLeod SC speaks wit...
Marriage equality flag
Aug 17 2017
ALHR backs High Court challenge to marriage equality postal vote
Australian Lawyers for Human Rights (ALHR) has voiced its support for a constitutional challenge to ...
Give advice
Aug 17 2017
A-G issues advice on judiciary’s public presence
Commonwealth Attorney-General George Brandis QC has offered his advice on the public presence of jud...
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'...
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...
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 & ...