King & Wood Mallesons has advised CBH Group on its response to an unsolicited corporatisation and listing proposal by GrainCorp-backed, Australian Grains Champion Pty Ltd.

CBH Group is Australia’s largest co-operative and Australia’s biggest grains exporter.

AGC’s proposal contemplates the possibility of up to $1bn in cash and scrip being offered to Western Australian grain growers in return for corporatising and listing the CBH business on ASX.

This week the CBH board announced its unanimous rejection of the proposal.

The KWM team was led by partner Heath Lewis, with support from partner Greg Golding, senior associate Caitlin Sharp and solicitors Renee Sequeira and Philippa Spurr.

Commenting on CBH’s response to the AGC proposal, KWM partner Heath Lewis said, “We are pleased to have been able to once again work closely with the CBH board and executive team in advising them on their response AGC’s proposal. We look forward to continuing to leverage our deep co-operatives and structuring experience for the benefit of CBH.”