Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.
Thanks!

Click here for a guide on disabling your adblocker.

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber
Deal will result in Costa delisting from the ASX

Piper Alderman and BCLP will guide Driscoll's on acquisition of Costa Group

Piper Alderman has teamed up with Bryan Cave Leighton Paisner LLP (BCLP) in advising Driscoll’s Inc. on the $2.5 billion acquisition of ASX-listed Costa Group Holdings Limited by a consortium. The deal was announced on 22 September; it is set to be implemented through a court-approved scheme of arrangement. Under the all-cash consideration, Costa’s equity is valued at $1.496 billion, while its enterprise value came in at $2.459 billion.

The consortium was led by US private equity firm Paine Schwartz Partners, LLC (PSP) and includes PSP-controlled entities as well as Driscoll’s, and British Columbia Investment Management Corporation (BCI). The scheme is pending approval from Costa’s shareholders as well as certain regulatory approvals across Australia, the EU, China, and Morocco, according to a BCLP press release.

The scheme is expected to be implemented in the first quarter of 2024. Following the acquisition, Costa will de-list from the ASX.


Source: thelawyermag.com

Publication date: