20 02 2016

A consortium, led by Australian Grains Champion, is proposing the corporatisation of Co-operative Bulk Handling Ltd

Gilbert + Tobin it is advising the consortium comprising GrainCorp, Australian Grains Champion and HRL Morrison & Co.


Australian Grains Champion’s proposal, which is subject to the satisfaction of conditions including a successful CBH grower member vote, involves the conversion of CBH from a co-operative into a company and the acquisition by AGC of 100% of the shares in CBH by way of a co-operative scheme of arrangement, for: ?    shares in AGC, such that CBH grower members, together with existing AGC shareholders, would own 100% of AGC’s shares before any initial public offering; and
?    a $600 million cash payment to grower members of CBH. AGC will fund the proposed $600 million cash payment to CBH grower members by way of the issue of $300 million of convertible notes to HRL Morrison & Co (acting on behalf of underlying Australian superannuation investors) and $300 million of notes to GrainCorp (with detachable warrants which, if exercised, will result in GrainCorp acquiring $300 million of shares in AGC). If the proposal is successful, AGC will also issue to GrainCorp an option to subscribe for an additional $300 million of shares in AGC. The Gilbert + Tobin is advising the consortium with a team led by John Williamson-Noble (Picture), Tim Gordon, Sarah Turner (M&A) John Schembri (Banking & Finance), Rachel Jones and Chris Morse. Involved fees earner: John Williamson-Noble - Gilbert & Tobin; Sarah Turner - Gilbert & Tobin; Tim Gordon - Gilbert & Tobin; Chris Morse - Gilbert & Tobin; Rachel Jones - Gilbert & Tobin; John Schembri - Gilbert & Tobin;

LATEST ISSUE
Powered by Share Trading

Everlasting
POPULAR ARTICLES
Le Fonti IAIR Awards Take Hong Kong By Storm

21/03/2017

Hong Kong has become a city of bright expansion, culture, and futuristic innovation. Fr

Will Brexit break London's place as FinTech Capital?

17/11/2016

Fintech, it’s described as the disruption in financial services pushed by consume

Le Fonti IAIR Awards 2016 celebrates excellences in London.

17/10/2016

On October 14th, 2016, the world’s leading corporate stars aligned for a momentou

IAIR AWARDS 2016 IN NEW YORK: EMONEY ADVISOR, C.A.S.H., CREDIT SUISSE AND CHEETAH MOBILE AMONG THE WINNERS

15/04/2016

More than 19 Excellences in the global economy at the VI Annual Edition of IAIR AWARDS&

IAIR AWARDS & CEO SUMMIT 2015 IN DUBAI

20/11/2015

It took place on 19 November 2015 at Palace Downtown in Dubai the 19th edition of the I