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Jan 13, 2014
A&B Represents Feronia Inc. in US$25M Private Placement
Aird & Berlis LLP acted for Feronia Inc. (TSX:FRN), a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo, in connection with its recent US$25M private placement led by CDC Group plc, the UK Government’s Development Finance Institution. The African Agriculture Fund, an African private equity fund managed by Phatisa (which has a portfolio of investments across Africa in the agriculture and food sectors), is Feronia’s largest shareholder and also participated in the offering. A&B also acted for Feronia in connection with a US$3.6M convertible loan facility with CDC, entered into concurrently with the offering, which is intended to support the implementation of an environmental, social and governance action plan in respect of the company’s operations in the Democratic Republic of the Congo.
The Aird & Berlis LLP team representing Feronia was led by Richard Kimel and included Morris Popowich.