|New Britain Palm Oil Ltd (NBPOL)
|$175m acquisition and associated $200m debt financing
|About the client:
|NBPOL is the world leader in the production of sustainable palm oil, from its extensive plantations in Asia. Akur (and the partners at Akur) advised NBPOL during its IPO in December 2007 on the Main List of the London Stock Exchange, when it was valued at c.£380m all the way through to its eventual takeover in 2014 by Sime Darby for £1.1bn – no further equity was issued during the period NBPOL was listed.
|About the transaction:
This transaction represented a major development in the Company’s evolution, and increased the plantation area of the Company by 50%, through this acquisition of 25,000 hectares of existing operating palm oil plantations from a consortium of Cargill and Temasek. This acquisition was funded by a new debt facility delivered by Standard Chartered.
Akur led all negotiations, and structuring with Temasek and Cargill, and ran the debt sourcing, structuring, and funding