Our corporate team have advised Agriculture & Natural Solutions Acquisition Corporation on its business combination with Australian Food & Agriculture Company Limited valuing AFA at approximately $510 million.
Agriculture & Natural Solutions Acquisition Corporation, a special purpose acquisition company ("ANSC"), announced that it has entered into a definitive agreement for a business combination with Australian Food & Agriculture Company Limited ("AFA") that values AFA at approximately US$510 million. Upon closing of the business combination, the combined company, Agriculture & Natural Solutions Company Limited, an Australian company, is expected to be listed on the New York Stock Exchange.
ANSC closed its IPO in November 2023 with the purpose of completing an initial business combination with companies in the agriculture sector that may provide opportunities for attractive risk-adjusted returns and benefits from sustainability objectives. AFA is a large-scale, diversified agricultural business established by the late Colin Bell in 1993 with the acquisition of the historic 'Burrabogie' station. AFA now operates one of the largest agricultural portfolios in New South Wales, Australia.
Our Cayman Islands corporate team were pleased to advise ANSC on this matter. The team was led by corporate partner Andrew Barker, supported by senior counsel Michael Beck and associate Miriam El Ofir.