Pérez Alati, Grondona, Benites & Arntsen, acted as a deal counsel for the Australian company Nufarm Ltd., in the sale of its stake in Nufarm S.A., a company specialized in crop protection products and seed treatment, to Japan's Sumitomo Chemical Co. Ltd., as part of the company's plan to divest its assets in Latin America.
As part of this transaction, both companies agreed to carry out a two-year supply and transition services agreement, by virtue of which Nufarm will continue to supply certain products to South American companies.
The operation that started in October 2019, which in addition to Argentina included Australia, Brazil, Chile and Colombia, was completed on April 1, 2020, in the context of the COVID-19 health emergency. The government dispositions for preventive and compulsory social isolation in Argentina required the parties to do an arduous and innovative effort to complete the transaction.
This acquisition will allow Sumitomo to triple its crop protection income and ensure sustainable business growth in the Latin America region.
Deal Local Counsel for Nufarm Ltd.:
Perez Alati, Grondona, Benites & Arntsen: Partners Alan Arntsen, Luis Diego Barry, Enrique Betemps, and Vanina Veiga. Associates Estefanía Balduzzi, , Sonia del Regno, Bárbara Santori, Florencia Piazzardi and Azul Juarez Pereyra among others.