K&L Gates Advises Australian Seafood Producer Yumbah on AU$60 Million Takeover of Yellowtail Kingfish Farmer

Global law firm K&L Gates has advised Australian seafood producer Yumbah Aquaculture Ltd on the takeover of Australian yellowtail kingfish farmer Clean Seas Food Limited by way of a court approved Scheme of Arrangement and assumption of debt.

Subject to the Scheme becoming legally effective, Scheme shareholders will receive AU$0.14 cash per ordinary share in the capital of Clean Seas held, unless the eligible Scheme Shareholder opts to receive an alternative Scheme consideration, swapping Clean Seas shares for shares in the merged entity.

The aim of the merger is to create operational efficiencies, extend market reach, and facilitate long-term growth potential. By leveraging the collective expertise in aquaculture and sustainable seafood production, the combined entity is positioning itself to be a leading provider in Australia’s aquaculture industry.

David Wood, Chief Executive Officer, Yumbah Aquaculture, said: “This is an important transaction for our business, and one that has been accomplished with sound and pragmatic advice from K&L Gates, which was delivered in a highly pro-active and responsive manner. The firm’s contribution to the growth of Yumbah is significant.”

The Corporate deal team was led by Melbourne partner Harry Kingsley, with support from special counsel Kaveh Zegrati, senior associate Mathika Perera, and lawyers Rami Maserow and Seb Kostas. Partner Stephen Hume advised on finance-related issues and special counsel Anna Smith advised on restructuring-related matters. 

K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.