Arnold Bloch Leibler is currently acting for Nufarm Limited, an agricultural chemicals company, in relation to a takeover by way of scheme of arrangement by Chinese state-owned company, Sinochem Corporation. The exclusivity period, which finishes 3 December, will allow Sinochem to conduct due diligence over a five week period.
The deal is subject to approval by Australia's Foreign Investment Review Board, Chinese regulatory agencies, competition authorities and Nufarm shareholders.
Arnold Bloch Leibler partner Jonathan Wenig (pictured right), and lawyers, David Shafer and Jeremy Lanzer. This team recently completed the Carsales.com initial public offering in September this year.
Partner Jonathan Wenig commented; "Following a recent trend of Chinese interest in Australian companies, Sinochem has entered into as heads of agreement with Nufarm in relation to a non-binding proposal for Sinochem to acquire all of the issued ordinary shares in Nufarm. Nufarm is a longstanding client of Arnold Bloch Leibler and the firm has acted in a range of matters on its behalf. It's always rewarding to be able to represent longstanding clients on milestone transactions."
Sinochem's core business includes energy, agriculture, chemicals, finance and real estate, and the largest integrated agriculture-input conglomerate in China.