Norton Rose Fulbright advises TGI on West Africa agribusiness joint venture with Wilmar

Global law firm Norton Rose Fulbright has advised Tropical General Investments Group (TGI Group) on 50:50 joint venture with Wilmar International Limited (Wilmar) to combine their respective agri sector businesses in Nigeria and the Republic of Benin.

TGI Group is an international investment and holding company with diversified interests across Africa, the Middle East and Asia. Wilmar is one of Asia's leading agribusiness groups, headquartered in Singapore and listed on the Singapore Stock Exchange.

The transaction is expected to create a scaled and fully integrated agribusiness platform, with an addressable market of more than US$12 billion across its core product categories in Nigeria and the Republic of Benin.

Under the transaction, Wilmar and TGI Group will contribute a portfolio of complementary operating businesses and established brands. The combined platform will span upstream agriculture, plantation, processing, food manufacturing and nationwide distribution.

Completion of the transaction is subject to customary regulatory approvals, and is currently expected to take place during the financial year ending 31 December 2026.

The Norton Rose Fulbright team advising TGI Group was led by London corporate partner Bayo Odubeko and included partners Mike Knapper (IP) and Michael Alliston (Tax); senior associates Matt Eccles (Corporate) and Alex Redbourne (IP); associates Daniel Femi-Alemede (Corporate) and Alex Mann (Tax); and trainee solicitors Olukoyinsola Onakamaiya and Soraya Asif.

Bayo Odubeko commented:

"This transaction brings together two highly complementary platforms to create a scaled, integrated agribusiness platform with significant presence across West Africa. It reflects the continued growth and attractiveness of consumer and food markets in the region, and the increasing importance of strategic partnerships that combine international capability with strong local execution."