29/09/2019

Gilbert + Tobin has acted for the Australian ASX-listed agribusiness Ruralco Holdings Limited (ASX:RHL) on its $469 million takeover by scheme of arrangement by Canadian based Nutrien Ltd, the world’s largest provider of crop inputs, services and solutions.

Under the scheme of arrangement, which became effective on 13 September 2019, Ruralco shareholders will receive $4.40 per share, comprising a fully franked special dividend of $0.84 and scheme consideration of $3.56.

The combination of Ruralco and Nutrien’s Australian Landmark business will create a robust rural services provider, with significant benefits for farmers, business and communities across regional and rural Australia.  The Australian Competition and Consumer Commission (ACCC) approved the merger in August, after an extended review and public consultation.  

G+T Corporate partners Costas Condoleon and Kevin Ko led the team, which also comprised Corporate lawyers Wes Bainbridge and Andrea Bennett, Disputes partner Colleen Platford, and Disputes lawyers Alexandra Whitby, Alice Pailthorpe and Mitchell Bennett.

Commenting on the deal, Partner Costas Condoleon said, “We are delighted to have worked closely with the Ruralco team on this successful transaction, allowing the merged group to provide a greater choice of products, services and technologies to Australian farmers to help them succeed in an increasingly competitive global environment.”  

Gilbert + Tobin’s market-leading Corporate Advisory team has advised on many of Australia’s largest and most innovative transactions, including recently advising Anheuser-Busch InBev on $16 billion sale of Carlton & United Breweries to Asahi Group, DuluxGroup on its $4.2 billion acquisition by Nippon Paint, BGH Capital on its $2.3 billion acquisition of Navitas, TPG on its $1 billion acquisition of Greencross and Viva Energy on its $2.65 billion IPO.