ClarkeKann has advised longstanding client StockCo on the acquisition by Elders of a 30% stake in its Australian business.
StockCo is the largest specialist provider of livestock financing in Australia and New Zealand. It provides a wide range of specialised agrifinance solutions to farming businesses. Elders has been prominent in the Australian agribusiness sector for over 175 years. “An equity position will strengthen our relationship with StockCo and align the growth ambitions of both companies” said Mark Allison, Chief Executive Officer of Elders in an ASX announcement.
At the same time, CK assisted StockCo to complete a capital restructure, including a $30 million secured note issue and advice concerning the exit of an investment bank.
CK’s Head of Financial Services, Miles Anderson, led the CK team that advised StockCo on all elements of these related and complex transactions. Miles said: “I have been working with StockCo since it entered the Australian market in 2006. This transaction represents a significant achievement in the Company’s growth strategy and I look forward to being involved in the next stage of the Company’s business.”
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