The multi-jurisdiction sale includes the Chemicals trading businesses in Australia, New Zealand and Latin America, the Australian Chloralkali manufacturing business and Bronson & Jacobs, a supplier to the food & nutrition as well as health & personal care industries. The transaction is subject to approval from the Australian Foreign Investment Review Board and New Zealand Overseas Investment Office and is expected to close in the first quarter of 2015.
The Gilbert + Tobin team worked closely with Orica general counsel, Chris Hansen, and deputy general counsel, Nick Ward on the transaction.
Neil Pathak commented, “We are delighted to continue our long standing relationship with Orica and work with the company on this strategic transaction.”
Ben Macdonald commented, “The sale followed a strategic review of the business which included consideration of a demerger. Ultimately the sale was preferred as it would likely result in a more certain value and outcome for shareholders.”
Mergers & Acquisitions partners, Neil Pathak and Ben Macdonald, led the Gilbert + Tobin team with M&A lawyers Andrew Chan and Frederick Brodie supporting. Gilbert + Tobin’s role covered a range of areas including property (Di Skapinker and Vicki Aron), environmental (Ben Fuller), transitional and IT arrangements (Mike Caplan and Jason Kwan), debt financing (Simon Lynch), tax (Peter Feros) and stamp duty (Hanh Chau).
Source: www.gtlaw.com.au
