Ashurst has advised New Britain Palm Oil Limited (NBPOL) in a GBP£1.073 billion or PGK$4.319 billion (approximately A$1.97 billion) cash takeover offer for all shares by Sime Darby Plantation Sdn Bhd (Sime Darby), a wholly-owned subsidiary of Sime Darby Berhard.

On 9 October 2014 NBPOL, one of the world's largest fully integrated producers of sustainable palm oil, announced that it had received formal notification from Sime Darby of its intention to make a cash offer for all the issued and to be issued shares in NBPOL at a price of GBP£7.15 or PGK$28.79 per share (Offer).

The Offer is subject to satisfaction of a number of conditions including EU merger clearance and a minimum acceptance level which would provide Sime Darby with at least 51% of NBPOL's voting shares.

The Ashurst corporate team was led by partner Tim Glenn, assisted by partner Murray Wheater, senior associate Sev Thomassian and lawyer Hetty Downer in Australia and PNG, and partner Karen Davies, senior associate James Fletcher, with associates Chris Phillips and Claire Broom in the UK.