J-Oil Mills enters joint venture with Goodhope Asia Holdings Ltd

On 2 December 2019, J-Oil Mills Inc (“J-Oil”), a company listed on the Tokyo Stock Exchange, concluded a business tie-up with Goodhope Asia Holdings Ltd (“Goodhope”) by subscribing for equity shares in Premium Vegetable Oils Sdn Bhd (“PVO”) and Premium Fats Sdn Bhd (“PF”) which resulted in J-Oil holding 20% and 51% of the issued shares in PVO and PF respectively.  The total consideration paid by J-Oil was USD 12 million. The remaining shares in PVO and PF are held by Premium Nutrients Private Limited, a wholly owned subsidiary of Goodhope.
Skrine represented J-Oil in the transaction, conducting the legal due diligence review on PVO and PF and drafting and negotiating the share subscription agreements, shareholders’ agreements and other transaction documents. The team comprised of Partner Sheba Gumis and Associates Rachel Ten, Melody Ngai, Ann Marie Siaw, Sri Komathy and Ng Kar Man.