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 (1-3 PAE)
Category: Insurance and Superannuation Law | Location: Sydney NSW 2000
· Join a dynamic Firm · Excellent career growth opportunity
View details
In-house lawyer 1-4 PAE
Category: Generalists - In House | Location: Adelaide SA 5000
· Leading Brand · Report to a Dynamic Legal Counsel
View details
Sumitomo grows Nufarm investment

Sumitomo grows Nufarm investment

Arnold Bloch Liebler (ABL) has acted for crop protection company Nufarm Limited in relation to the $600 million strategic investment in Nufarm by Japanese company Sumitomo Chemical Company…

Arnold Bloch Liebler (ABL) has acted for crop protection company Nufarm Limited in relation to the $600 million strategic investment in Nufarm by Japanese company Sumitomo Chemical Company Limited, represented by Jones Day Lawyers.

ABL also advised Nufarm in relation to its subsequent $250 million capital raising venture, in which Allens Arthur Robinson represented underwriters UBS AG, Australia Branch.

Lead partner Jonathan Wenig commented on the success of the investment, stating: "It was gratifying to be able to conclude such a successful transaction for Nufarm and its shareholders, particularly in light of the turbulent share market and trading period that Nufarm has endured. The end result is a stronger company and the foundation of what promises to be a key strategic relationship."

Sumitomo, a publicly listed company, acquired a 20 per cent share of Nufarm' issued capital on 15 April this year following a successful tender offer to Nufarm's shareholders.

According to ABL, Sumitomo's investment essentially creates a strategic relationship between the two companies, and will increase the level of cooperation between them in areas relating to the distribution of products, the development of new products, and sourcing and manufacturing.

The investment in Nufarm by Sumitomo occurred following the rejection by Nufarm's board of an offer by Sinochem Corporation, a Chinese state-owned company, to acquire all of Nufarm's issued capital by way of scheme arrangement.

In addition to the investment, ABL said the equity raising has strengthened Nufarm's balance sheet and places the company in a position to pursue growth opportunities.

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

Sumitomo grows Nufarm investment
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Warning
07:03
NT Law Society sounds alarm on mandatory sentencing
The Law Society Northern Territory has issued a warning over mandatory sentencing, saying it hasn’...
Unite
Aug 22 2017
Professionals unite in support of marriage equality
The presidents of representative bodies for solicitors, barristers and doctors in NSW have come toge...
Aug 21 2017
Is your firm on the right track for gig economy gains?
Promoted by Crowd & Co. The way we do business, where we work, how we engage with workers, ev...
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 & ...