Bakers and Freshfields advise on Cargill’s €1.5bn Provimi deal

Baker & McKenzie and Freshfields Bruckhaus Deringer have lined up to take top roles in Cargill’s planned €1.5bn ($2.14bn) acquisition of global animal nutrition company Provimi from private equity firm Permira.

The proposed acquisition is tipped to create a global leader in animal nutrition and will include Provimi’s worldwide business with operations in 26 countries and more than 7,000 employees across Asia, Europe, Africa and Latin America.

Provimi has agreed to kick off the necessary Works Council consultations and regulatory approvals on an exclusive basis in preparation for the acquisition.

A Baker & McKenzie team led by London corporate partner Tim Gee and also including competition partner Luis Gomez, tax partner Alex Chadwick and lawyers from 23 of the firm’s offices advised Cargill on its binding offer for the acquisition.

Commenting on the deal, Gee said: “On completion, the acquisition would cement Cargill’s existing position to create a global leader in animal nutrition. The span of the existing Provimi business across five continents meant seamless input was required from over 20 jurisdictions which played to our strengths as a truly global firm.”

Provimi and its current owner Permira were represented by a Freshfields team led by corporate partners Laurie McFadden and Bruce Embley, with JPMorgan providing financial advice.