Gilbert + Tobin has advised IFFCO Poultry Co Ltd (IFFCO) on its 19.9 per cent acquisition of ordinary shares in Australian Agricultural Company (ASX-listed as AAC).
Partner Adam Laura led the transaction and was assisted by lawyers Peter Reeves and Richard Francis.
"IFFCO clearly has some strong views relating to the future direction of AAco and the result of the EGM speaks to the support it has amongst the existing shareholder base," Laura commented.
"IFFCO's entry into the Australian market is an exciting prospect. They intend to be an active investor in AAco and we look forward to working with them as their corporate legal adviser in Australia."
In addition to the acquisition, Gilbert + Tobin also advised IFFCO at the extraordinary general meeting of Australian Agricultural Company Ltd, where a proxy battle relating to AAC's highly publicised purchase of Tipperary and Litchfield cattle stations took place. The meeting ultimately resulted in shareholders voting with IFFCO against the resolution to approve the purchase.
IFFCO is a business situated in the United Arab Emirates that manufactures and sells mass-market consumer products in a number of different areas.