The partnership aims to transform Australia's emerging environmental market
Arnold Bloch Leibler (ABL) has acted for longstanding client Greening Australia on Commonwealth Bank of Australia's (CBA) minority equity investment in Nindethana Seed Service.
Native seed is a key input for large-scale restoration projects, and the growing demand for quality native seed significantly outstrips the current supply. This latest partnership among Greening Australia, Nindethana and CBA aims to transform Australia's emerging environmental markets and unlock the supply of high-quality, high-integrity carbon credits.
The ABL team who worked on the deal was led by public interest law partner Peter Sidel and corporate, M&A special counsel Emily Simmons. Lawyer Billy Sakis assisted them.
Simmons congratulated Greening Australia on the transaction: "It was an honour to act for Greening Australia in this milestone transaction, and I am excited to see the impact this transformative investment has on Australia's carbon market".
Greening Australia's CEO, Brendan Foran, emphasised that CBA's investment in Nindethana brings the capital needed to help transform the market. Furthermore, according to Greening Australia's CEO, CBA's investment ensures that environmental restoration work undertaken in future years also benefits local communities, the economy, and ecosystems.
Nindethana is Australia's largest native seed merchant. The company commenced operations in NSW and began supplying native seed as early as the 1940s. Nindethana acquired Greening Australia (WA) in 2009. Following the strategic acquisition, Nindethana's operations essentially remained the same but partially administered from Greening Australia's head office in Perth.
