find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
Hong Kong company invests in Kailis Bros

Hong Kong company invests in Kailis Bros

Handley.Adam

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
protest
06:05
High Court overturns ‘excessive’ anti-protest legislation
Bob Brown’s recent victory in the High Court over the Tasmanian government was a win for fundament...
Blocked
06:04
Changes to Australian citizenship laws blocked
Attempts to beef up the requirements to obtain Australian citizenship were thwarted this week, after...
Warning
06:03
Lawyers warn against mandatory sentencing measures amid political jeers
Mandatory sentencing has become a topic for politicians on both sides of Federal Parliament to jostl...
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 & ...