Gilbert + Tobin advised GrainCorp on the sale of its 60% investment in Allied Mills Australia Pty Ltd (“Allied Mills”) to funds advised by Pacific Equity Partners (“PEP”).
PEP has agreed to acquire all of the businesses of Allied Mills and GrainCorp’s joint venture partner Cargill Australia has also sold its 40% interest to PEP.
The consideration equates to an enterprise value of Allied Mills of $455 million.
Corporate Advisory partner, John Williamson-Noble is pleased to have assisted GrainCorp with this complex sale.
“This transaction resulted from a decision by GrainCorp and Cargill, who have been joint investors in Allied Mills for over 15 years, to exit their investment.
The transaction involved a high level of co-operation between GrainCorp, Cargill and Allied Mills and their advisers since it entailed ensuring that the interests and agendas of all three parties were aligned.”
John Williamson-Noble led the Gilbert + Tobin team assisted by associates Beth Jeffers and Chris Morse.