Under the agreement, signed on 15 December, Cargill Australia will buy the grain commodities business that Agrium acquired when it purchased leading Australian agribusiness AWB Limited, advised by Blake Dawson, on 3 December.

Subject to various regulatory approvals, and expected to close in the first half of 2011, the acquisition will include AWB's grain marketing and pool operations, international grain trading businesses, grain distribution and storage assets, and international operations based in Switzerland, India and the Ukraine.

Allens partners Carolyn Oddie and Marcus Clark led the team, which advised on a range of due diligence and regulatory issues including analysis of AWB's wheat and barley pools, regulatory clearances, environment, sanctions compliance, oil-for-food litigation and employment issues.