Herbert Smith Freehills has advised a consortium of international private investors, led by Hong Kong based businessman Mr William Hui, in its acquisition of United Dairy Power Group, Australia’s largest privately-owned dairy processor and supplier. The acquisition completed on 31 January 2014.

Melbourne-based partner Michael Ziegelaar led the Herbert Smith Freehills team advising on acquisition strategy and documentation. Michael was supported by senior associate Kam Jamshidi and solicitor Alex MacKinnon.

Hayley Neilson, Sydney-based finance partner, advised on the financing aspects of the transaction.  Hayley was supported by senior associates Jeremy Murnain and Kelvin Choy and solicitor James Mesiti.

The transaction signifies the continued interest in Australian agricultural assets, especially in the dairy sector, by international investors.

“We are continuing to see strong interest in the agricultural sector from international buyers who want to secure a foothold in the market. We were delighted to work with Mr Hui on this acquisition, which further consolidates our expertise in the Australian agricultural sector,” said Michael Ziegelaar.

“Financiers continue to be supportive of acquirers in the agricultural sector. They are willing to provide attractive lending terms and work closely with acquirers to achieve a suitable debt-package for the right assets,” said Hayley Neilson.