Dubai, UAE: Leading international law firm Habib Al Mulla & Partners, a member firm of Baker & McKenzie International has acted as legal counsel to ETC Group (ETG), a multinational conglomerate with a presence in 48 countries across five continents, on an agreement whereby SABIC Agri-Nutrients Company (SABIC AN), a public joint-stock company owned 50.1% by SABIC and a global leader in the fertilizers industry, will acquire a 49% stake in ETG Inputs Holdco Limited (EIHL).
Under the terms of this acquisition agreement, SABIC AN will acquire the interest in EIHL for a transaction value of US$ 320 million, subject to regulatory approval and other terms and conditions. EIHL owns and operates more than 350 distribution centers across Africa and with its extensive network of agents and agronomists it is well positioned to increase both commercial and smallholder farmers' yields. EIHL plays a key role in successfully linking millions of smallholder sub-Saharan African farmers with global markets and buyers. Signed on 24 January 2022, the transaction aims at further enhancing SABIC AN and ETG’s portfolio of agriculture innovative assets and strengthen its global networks outside sub-Saharan Africa.
Commenting on the transaction Pietro de Libero, corporate partner at Habib Al Mulla & Partners, a member firm of Baker & McKenzie International said, “Given that this transaction is a transformative and cross-border one for our client, it will only add substantial scale and additional global growth opportunities to them. We are delighted to have assisted ETG on this significant matter and look forward to continuing to support them with their legal needs as they further seek such strategic partnerships with strong market appeal.”
Habib Al Mulla & Partners, a member firm of Baker & McKenzie International advised ETG on all the legal aspects of the transaction. The team was led by partner Pietro de Libero and further included M&A lawyers Marcos Spanos and Neil Williams.
This is the latest example of Habib Al Mulla & Partners, a member firm of Baker & McKenzie International work in advising on high profile and complex transactions and reconfirms the Firm’s position as a transactional powerhouse.
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