The firm is acting for Tate & Lyle in the breaking up and subsequent sell-off of its Eaststarch joint venture with The Archer Daniels Midland Company (ADM), an American-based global food processing and commodities-trading Corporation. Under the terms of the agreement, ADM will take full ownership of corn wet mills in Bulgaria and Turkey and will own a 50 percent stake in a wet mill in Hungary. Meanwhile Tate & Lyle will receive a cash consideration of €240m and take full ownership of the Eaststarch facility in Slovakia.
The team is led by retail and consumer head Andrew Rosling, with support from ex-Linklaters partner Bruce Kilpatrick advising on competition and regulatory issues. Ben Woolf, corporate lawyer at Tate & Lyle, worked on the deal from the in-house side.
Eversheds advised ADM on the deal with a team led by the co-chair of Eversheds’ cross border M&A team Robin Johnson and head of UK commercial in Manchester Tom Bridgford.
Addleshaws also worked with two firms from their international best friends network Rotterdam headquartered Loyens & Loeff and German-based Noerr on certain cross-border jurisdictional issues.
Legal Business understands that Tate & Lyle is a new client relationship for Addleshaws, and while the firm has carried out some pieces of work already for company, this is the most significant instruction to date.