Commercial law firm K&L Gates has acted on a major cross-border deal involving the sale of a 75% interest in Melbourne-based Blend & Pack to Hong Kong-listed Mason Financial Holdings, with an additional 5% to ASX-listed Wattle Health.
The deal is valued at a total of $80m, the law firm said. Blend & Pack provides blending, packaging and distribution services to customers in the infant formula and nutritional products market.
Blend & Pack is a major player in the Chinese market, as the company is one of only eight infant formula manufacturers in Australia to be accredited by Beijing’s Certification and Accreditation Administration to produce infant formula to export there.
K&L Gates advised on all legal aspects of the sale. Its team was led by Corporate/M&A partner John Mann, who was assisted by lawyers Stephen Clarke and Michael Zippel, and graduates Annina Nowak and Harry Crawford.
They were joined by partners Betsy-Ann Howe and Nick Ruskin, and also drew upon advice from the firm's Hong Kong office in relation to local listing rules.
"K&L Gates is pleased to have been given the opportunity to provide strategic advice and support to Blend & Pack on this highly complex transaction which included multiple stakeholders, complex transaction documents, multiple sellers and multiple buyers,” Mann said.
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