ANZ Terminals’ $350 Million Acquisition of GrainCorp Australian Bulk Liquid Terminals

Gilbert + Tobin has advised GrainCorp Limited (GrainCorp) on the sale of its Australian Bulk Liquid Terminals business to ANZ Terminals Pty Ltd (ANZ Terminals) for an enterprise value of approximately $350 million.

. The deal was announced to the market yesterday. As part of the sale arrangements, Gilbert + Tobin also advised GrainCorp on a long-term storage agreement, which will take effect on the sale’s completion.

The sale of the Australian Bulk Liquid Terminals business is an outcome of GrainCorp’s ongoing Portfolio Review. The divestment to ANZ Terminals, an experienced operator of bulk liquid terminals, along with entry into a long-term storage agreement, secures GrainCorp ongoing access to infrastructure to support its oils business. GrainCorp will also release capital and unlock significant value for shareholders as a result of the sale.

GrainCorp acquired the Australian Bulk Liquid Terminals business in 2012 as part of the acquisition of Gardner Smith. The business operates eight liquid terminals sites across Australia. The sites are designed to store and handle bulk liquid fats and oils, fuels and chemicals for a range of customers, including GrainCorp Oils.

Gilbert + Tobin advised GrainCorp Limited with a team including John Williamson-Noble (Picture), Chris Morse, Jenny Leung and Jack Coles. Partner Tim Gole and special counsel Melissa Fai, assisted by lawyer Stephanie Essey and consultant Rosalind Moffatt, advised in relation to the long-term storage agreement and other transitional arrangements. Real Estate and Property partners Amanda Hempel and Ben Fuller respectively provided advice on property and environmental issues, assisted by lawyer Ammara Ijaz.

GrainCorp was also advised by Competition + Regulation partner Elizabeth Avery and lawyer Amelia McKellar. Partner John Schembri and lawyer Erin Cartledge provided support from G+T’s Banking + Infrastructure group.

Involved fees earner: Elizabeth Avery – Gilbert + Tobin; Erin Cartledge – Gilbert + Tobin; Jack Coles – Gilbert + Tobin; Stephanie Essey – Gilbert + Tobin; Melissa Fai – Gilbert + Tobin; Ben Fuller – Gilbert + Tobin; Tim Gole – Gilbert + Tobin; Amanda Hempel – Gilbert + Tobin; Ammara Ijaz – Gilbert + Tobin; Jenny Leung – Gilbert + Tobin; Rosalind Moffatt – Gilbert + Tobin; Chris Morse – Gilbert + Tobin; John Schembri – Gilbert + Tobin; John Williamson-Noble – Gilbert + Tobin;

Law Firms: Gilbert + Tobin;

Clients: GrainCorp Ltd.;


Author: Michael Patrini