Leading global law firm Herbert Smith Freehills has worked with foreign law alliance partner Prolegis to advise a bank syndicate on a US$338 million financing for a Philippine company's majority stake in one of Asia's largest agribusiness companies.
The syndicate – comprising DBS Bank, Mizuho Bank, MUFG Bank and Standard Chartered – provided financing for AEV International Pte Ltd, a subsidiary of the Philippines' Aboitiz Equity Ventures (AEV). AEV is the public holding company of the Aboitiz Group, one of the Philippines largest conglomerates.
AEV acquired a 75% stake in one of Asia’s largest privately-owned agribusiness corporations, Gold Coin Management Holdings Limited. Singapore-based Gold Coin is a major producer of animal feeds, with feed mills in several Asian countries.
"We are delighted to have been involved on this transaction to advise the banks on the acquisition financing to assist Aboitiz Group in expanding its agribusiness," said partner and head of Asia finance Adrian Cheng.
Adrian was assisted by senior associate Salonika Kataria, associate Adrienne Lai and trainee Charlotte Croney. The Prolegis team was led by of counsel Gary Wan assisted by associate Sze Min Lim.