Hamilton Locke is pleased to have advised Macquarie Commodities and Global Markets Group on legal aspects of the acquisition of a strategic offtake agreement from Dyno Nobel, forming part of a broader transaction involving the separation of Dyno Nobel’s fertiliser business from its core global explosives business.
The transaction involved Macquarie CGM Group securing exclusive offtake rights via the A$145 million acquisition of the Perdaman urea offtake arrangements, positioning Macquarie to support ongoing demand from its global commodities clients, particularly within the Australian industrials sector. Under the 20-year offtake agreement, Macquarie will take delivery of up to 2.3 million tonnes per annum of granular urea fertiliser produced at Perdaman’s Karratha urea plant.
The broader transaction included the sale of Dyno Nobel’s fertiliser distribution business for gross proceeds of $375 million to ASX-listed Ridley Corporation and the A$194 million conditional sale of Dyno Nobel’s Gibson Island land to an undisclosed ASX listed property developer.
This transaction underscores CGM’s continued commitment to investing in and securing strategic resources and infrastructure that support industrial and energy markets across the region.
The Hamilton Locke team was led by corporate partners Michael Boyce and James Nicholls, with support from Stephanie Patterson (special counsel), Emily Eardley (senior associate) and Kate Koh (lawyer) and specialist advice from Seema Sandhu (tax), Amelia Prokuda (environment and planning), Alistair Newton (competition), Melissa Doran (work, health and safety) and Sarah Gilkes (IP and technology) and their teams.
Commenting on the transaction, Hamilton Locke Corporate Partner Michael Boyce said:
“We were delighted to support Macquarie CGM on legal aspects of this strategic transaction that positions it as the key supplier of urea into the Australian market, with significant reach into the global market. The Hamilton Locke team interfaced seamlessly with the CGM team to ensure deal execution within a tight timetable, notwithstanding the complexities flowing from its interaction with the broader separation of Dyno Nobel’s fertiliser business and its constituent transactions.”
