Latham & Watkins Advises Rivulis on Combination with Jain Irrigation

Transaction aims to create global irrigation and climate leader.

June 23, 2022

Latham & Watkins has advised Rivulis, a global micro irrigation leader, on its agreement with Jain Irrigation Systems Limited to acquire multiple overseas subsidiaries, which consist of the International Irrigation Business (IIB) of Jain Irrigation. The combined entity will enable unparalleled market coverage, allowing growers and business partners globally to benefit from extensive product and solution offerings, including digital farming services.

The transaction consideration is a combination of cash and stock. Jain Irrigation will receive stock comprising 22% interest in Rivulis, the holding company of the enlarged group, and cash for the financing of debt issuances of the IIB and of bonds issued by Jain International Trading B.V., to create a climate and irrigation leader globally. Temasek, a global investment company headquartered in Singapore, will become the majority shareholder of the Company with a 78% stake. The transaction is subject to required regulatory approvals and other customary closing conditions.

The Latham team was led by London corporate partner Robbie McLaren, with associates Harriet Stephenson, Nathan Van As, and Hugo Cliff; Singapore partner Farhana Sharmeen; and Chicago partner Shaun Hartley and associate Jay Trewn. Advice was also provided on data and technology transactions matters by London partner Deborah Kirk, with associates Oscar Bjartell and Luke Vaz; on tax matters by London partner Karl Mah, with associates Amy Watkins, Abi Jacobs, and Shruti Hazra; on antitrust matters by Brussels partner Luca Crocco and Bay Area partner Joshua Holian, with Washington, D.C. counsel Britton Davis and Ruchi Gill, Brussels associates Robert Benditz, Lorenzo Sacco, Marine Deweale, Julia Weber, and Ben Isaacs; and Washington, D.C. associate Asia Cadet; on employment matters by London partner Kendall Burnett, with associates Adam Ray and Juliet Rognile; and on finance matters by London partner Manoj Tulsiani, with associates Harrison Armstrong and Annabel Cawood, and Moscow associate Alexander Kartyshev.

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