Ashurst advises Mitsui on strategic food sector acquisition

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International law firm Ashurst advised Mitsui & Co on its joint acquisition with the Development Bank of Japan of an 8.5% stake in FKS Food & Agri (FKS) for US$104 million.

FKS and its subsidiaries are engaged in businesses including sourcing grains, oilseeds and sugar from around the world, refining sugar and shipping these products to various destinations, primarily in Southeast Asia.

Mitsui has identified “nutrition and agriculture” as a new growth area and views Southeast Asia as particularly important in terms of market growth and business expansion.

Lead Partner Tracy Whiriskey (Tokyo) said: “This transaction highlights the Ashurst team’s ability to execute complex multijurisdictional M&A for Japanese clients, including eight Ashurst offices globally, as well as English and Japanese-language transaction documentation.”

In Tokyo Whiriskey was assisted by partners Kensuke Inoue and Ronnie King, senior associate Naota Suzuki, and associates Jennifer Goh and Alexis Rosenberg. In addition, partners Simon Brown (Singapore), Ratih Nawangsari (Jakarta), Chin Yeoh (Hong Kong), Alyssa Philips (Brisbane), Rehana Box (Sydney) and counsel Chris Young (Dubai) provided support.