Piper Alderman has teamed up with Bryan Cave Leighton Paisner LLP (BCLP) to advise Driscoll’s Inc. on the $2.5 billion acquisition of ASX listed Costa Group Holdings Limited by an alliance. The transaction was officially announced on September 22nd, and will be executed by a court-approved arrangement. The all-cash option the equity of Costa is valued at $1.496 billion. Its total enterprise value was $2.459 billion.

The group was helmed by US private equity company Paine Schwartz Partners, LLC (PSP) which is controlled by PSP entities, as along with Driscoll’s and British Columbia Investment Management Corporation (BCI). The plan is subject to the approval of Costa’s shareholders and specific regulatory approvals in Australia and China, the EU, China, and Morocco in accordance with the BCLP press announcement.

The plan is scheduled to go into effect in the first quarter of 2024. In the wake of the acquisition Costa will withdraw on the ASX.

Source: thelawyermag.com