Allens advises Bellamy’s on Mengniu scheme proposal

Allens is pleased to be advising Bellamy’s Australia Limited (Bellamy’s) in relation to the proposed scheme of arrangement under which China Mengniu Dairy Company Limited (Mengniu) will acquire 100 per cent of the shares in Bellamy’s.

Under the transaction, it is intended that Bellamy’s shareholders will receive $13.25 cash per share (which would include a special dividend paid by Bellamy’s), valuing the company’s total equity at approximately $1.5 billion.

Founded in Tasmania, Bellamy’s produces, supplies and markets a range of organic food and infant formula.

Implementation of the Scheme remains subject to several conditions, including approval of Bellamy’s shareholders, the Court and the Australian Foreign Investment Review Board.

The Allens team on the matter is led by Partners Guy Alexander and Tom Story, and Senior Associate Hannah Biggins.

Subject to obtaining all necessary approvals, the transaction is expected to be implemented before the end of 2019.

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