Russell McVeagh, Herbert Smith Freehills Kramer, and Sudath Perera Associates advised Fonterra Co-operative Group Limited on its proposed NZ$4.22 billion sale of its global consumer and associated businesses to the Lactalis Group.
The transaction is one of the largest in New Zealand corporate history and involves the sale of Australian and New Zealand household brands such as Anchor, Bega, Mainland and Western Star as well as operations in Australia, New Zealand, Sri Lanka, Southeast Asia and the Middle East.
The transaction structure also contemplates long-term supply agreements for milk and ingredients between Fonterra and Mainland.
Russell McVeagh acted as lead deal counsel on all New Zealand legal aspects. The team was led by Partner David Hoare, Partner Ben Paterson, Partner Hannah Wilson-Reddy, with support from Fonterra’s legal team.
Herbert Smith Freehills Kramer advised on Australian M&A and regulatory aspects of the deal. The team was led by Partner Nick Baker, Partner Tim McEwen, Partner Linda Evans, Partner Merryn Quayle, supported by associates across the firm’s Australian offices.
Sudath Perera Associates acted as Sri Lankan legal counsel. The team comprised Partner Hafsa Ifthikar, Associate Pamodi Pathirage, Legal Assistant Nishadhi Thilakaratne.
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