Ashurst has advised Japanese company Mitsui & Co., Ltd on the acquisition of a 25% stake in Plum Grove Pty Ltd, valued A$10.5 million.
Plum Grove is an incorporated joint venture, which specialises in the pooling and sale of Australian grain.
Lead partner on the matter, Ian Williams, said: “We are delighted to assist Mitsui on a further investment in Australian agri-business as part of Mitsui’s diversification strategy announced in its recent mid-term plan.”
Mitsui acquired part of the 25% shareholding from the founding shareholders of Plum Grove under the terms of the Share Purchase Agreement, and separately subscribed for additional shares under the terms of the Subscription Agreement.
As part of the transaction, amendments were negotiated in relation to the Shareholders’ Deed.
The Ashurst team was led by partners Ian Williams and Lionel Meehan and senior associates Chin Yeoh and Ernie Lagis supported by senior associates Amelia Berczelly, Trent Sebbens, Elizabeth Ireland, Corey McHattan and Sanjay Wavde, and lawyers Tina Davey, Lauren Harris, Michael Orban, Catherine Feng and Claudie Hughes.
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