Carbon farming pioneer builds sustainable cattle station portfolio
Piper Alderman advised Corporate Carbon Group Pty Ltd and its subsidiary, Paniri Agricultural Co, on a range of acquisitions and joint ventures as part of establishing a $130m portfolio of sustainable agriculture cattle stations, on which a variety of carbon projects will be conducted.
Corporate Carbon Group is in the business of providing climate solutions by reducing carbon emissions and transitioning to a decarbonised economy.
Corporate Carbon Group has established the CC Stage 3 Agricultural Trust to acquire 661,615 hectares of state and pastoral leases on significant farming properties in Queensland and the Northern Territory to conduct savanna fire management practices in accordance with methodologies approved by the Clean Energy Regulator in order to reduce carbon emissions and generate Australian Carbon Credit Units.
Piper Alderman advised Corporate Carbon Group on all stages of the transaction, including:
- establishing Umlilo Holdings Pty Ltd and the CC Stage 3 Agricultural Trust
- negotiating the relevant operational documents under which fire management practices would be carried out on the properties
- negotiating the financing, investment and securityholders agreements with a key investor in and lender to the Trust
- negotiating the terms of the external finance facility agreement and related security agreements with an institutional third party lender as part of the financing for the acquisition of the properties
- negotiating the terms of the sub-lease and licence arrangements for other entities in the Corporate Carbon group to conduct farming and related agricultural activities on the properties.