A Japanese sogo sosha has unloaded its stake in a New Zealand dairy processing company
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Harmos Horton Lusk advised The a2 Milk Company on its acquisition of shares in Synlait Milk.
The 8.28% stake, which was bought for $161.8m, was acquired from Tokyo-listed Mitsui & Co, one of Japan’s largest sogo soshas. The deal increased the Synlait stake held by a2 Milk, which is dual-listed on the NZX and ASX, to 17.39%.
The acquisition is part of the company’s commitment to long-term supply arrangements with high-quality partners, said Jayne Hrdlicka, a2 Milk managing director.
The Harmos Horton Lusk team was led by director Andrew Harmos and senior associate Annie Steel, who is up for promotion to director pending completion of New Zealand Law Society requirements.
