Machado Meyer, in partnership with Jones Day, has represented Advanta Enterprises Limited in the sale of a 13.33% stake for $300 million USD to agricultural solutions provider KKR & Co. and UPL Limited, a provider of agricultural solutions.
KKR will make its investment based on its global impact strategy, which invests in companies that provide solutions to address critical global challenges and contribute to the United Nations Sustainable Development Goals.
Advanta’s business, a subsidiary of UPL and a global seed company, improves the productivity and incomes of smallholder farmers. Upon completion of the transaction, Advanta will operate as an independent platform and aims to become a global leader in seed sustainability.
The transaction was signed on 21 October and involved the jurisdictions of Brazil, the United States and India.
The advisory involved conducting limited-scope seller due diligence, as well as the review and preparation of the transaction documents.
Advanta Enterprises Limited focuses on sustainable agriculture, providing farmers with high-yielding, quality, locally adapted hybrid seeds. With a presence in 84 countries in Asia, Australia, Europe, the United States, Latin America and Africa, it is a global leader in tropical and subtropical maize and holds leading positions in many regions in maize, forages, grain sorghum, sunflower, canola, rice and vegetables.
Machado Meyer’s team included partners Elie Jaques Sherique (pictured left) and Luiz Mascaro (pictured right), and lawyers Helena Prescinotti Cursino De Andrade and Mariana Miranda Perecin.