Marble, columns and stairs
Dec 28, 2023

On December 28, 2023, Başak Traktör Tarim Ziraat Ve Iş Makinalari Sanayi Ticaret A.Ş (“Başak Traktör”), a wholly owned subsidiary of ASKO Holding (“ASKO Holding”) completed its acquisition of all the common shares (“Shares”) of Buhler Industries Inc. (the “Company”) owned by Combine Factory Rostselmash Ltd. (“Rostselmash”), representing 96.7% of the issued and outstanding Shares of the Company. Başak Traktör also acquired all of the outstanding debt of the Company owed to Rostselmash (“Debt”). The aggregate cash purchase price was CAD$60.5 million paid by ASKO Holding. The acquisition of the Shares and the Debt is referred to as the “Transaction”.

Through its subsidiaries, Asko Holding operates in the areas of construction machinery, agricultural machinery, energy and technology. The Transaction represents an important step in Asko Holding’s continued expansion into the North American Market with the Company’s iconic brands, Versatile and Farm King.

Working with Asko Holding’s US counsel, John Clifford and Laura Giesbrecht co-led McMillan’s national multidisciplinary team, which included Charlotte Scott; William Pellerin; Joshua Chad; Sandra Zhao; Matthew DeAmorim; Paul Boshyk; Khaleed Mawji; Yue Fei; Kari Kim-Gallately; Mitchell Allison; Ximena Pinilla; Jacob Stucken; Talia Gordner and Michael Friedman. McMillan provided expertise on a wide range of legal sectors, including international trade, competition/foreign direct investment, corporate/commercial, securities, employment, intellectual property, commercial real estate, environmental and regulatory; advising ASKO Holding on all aspects of the Transaction; from the due diligence process, securities regulatory compliance and advising on all Canadian aspects of the cross-border Transaction.

As a national business law firm with exceptional capabilities to lead businesses through cross-border transactions and investments into Canada and within multifaceted regulatory regimes, McMillan provides real-time business solutions to our clients. Our Business Law and Mergers & Acquisitions Groups are skilled at structuring and closing complex deals of all shapes and sizes in Canada, the US and internationally and in providing innovative transactional advice and solutions. Our understanding of business imperatives and our relationships with the regulators helps our clients stay ahead.