PPU counsels Sumitomo Chemical on Nufarm acquisition
Law firm Philippi Prietocarrizosa Ferrero DY & Uría has acted as Chilean counsel to Sumitomo Chemical in its acquisition of the Chilean assets of Australia’s largest crop production company, Nufarm, as part of the Japanese chemical company’s buyout of Nufarm, which also includes its businesses in Argentina, Brazil and Colombia.
“This is a significant and major transaction, considering the volatile global markets these days, and it allows Sumitomo Chemical to set up a strong development network in our region,” the law firm said in a statement.
The deal was valued at AUS$1.19 billlion ($724.4 million).
“The sale of our South American businesses significantly strengthens our balance sheet and enables us to focus on improving cash generation across our businesses,” Nufarm managing director and chief executive officer Greg Hunt was quoted by Australian media as saying.
PPU’s team was led by partners Federico Grebe (pictured) and Ignacio Larraín, with associates Cristina Olavarría, Natalia Czwiklitzer and Felipe Ossa.
