New Plantations Limited entered into a conditional share purchase agreement to acquire Emerald Plantation Group Limited from Emerald Plantation Holdings Limited (OTCPK:EMEX.F) for approximately $240 million in cash on April 21, 2016. Under the terms of agreement, New Plantations shall pay $213.6 million in cash as an initial payment, subject to certain adjustments; a deferred payment of $23 million in cash on the date which is 12 months following completion, and an amount equal to $5.04 million or a part of it, which is held by certain subsidiaries of Emerald Plantation Group and has been seized and frozen pursuant to certain court orders, upon the release of such funds. The transaction is subject to approval from Emerald Plantation Holdings’ shareholders to be held on April 25, 2016. The agreement shall terminate if all conditions are not satisfied or waived on or prior to June 30, 2016. Georgeson Inc. acted as an information agent for Emerald Plantation Holdings. Nicholas Norris, Neil McDonald, Amy Ngan, Melissa Mak of Kirkland & Ellis acted as legal advisor for Emerald Plantation Holdings Limited. Moelis & Company LLC acted as financial advisor for Emerald Plantation Holdings Limited. New Plantations Limited completed the acquisition of Emerald Plantation Group Limited from Emerald Plantation Holdings Limited (OTCPK:EMEX.F) on June 8, 2016.