Under the transaction, Danantara Investment Management will invest US$2.5 billion for a 25% stake in JBS's Australia and New Zealand operations. Together with an anticipated additional US$2.5 billion of investment capacity through the joint venture, the partnership aims to invest up to US$5 billion across Indonesia, Australia, New Zealand and Southeast Asia, including through acquisitions, greenfield investments and other growth opportunities. 

The transaction supports JBS's long-term strategy of expanding its presence in key growth markets and responding to increasing global demand for protein, with Indonesia and Southeast Asia representing significant opportunities for future growth. 

MinterEllison M&A/Capital Markets Partner Michael Scarf, who led the firm's involvement in the transaction, said: 

“We are pleased to have supported JBS on this significant transaction. This partnership reflects the strength of JBS's Australian and New Zealand operations and the growing importance of Indonesia and Southeast Asia in global food and protein supply chains.” 

Mr Scarf continued: 

"This transaction demonstrates MinterEllison’s deep experience advising clients on complex cross-border transactions involving Indonesia. Our team combines market-leading transactional expertise with a strong understanding of the Indonesian market.” 

MinterEllison acted as Australian and New Zealand counsel for JBS. De Brauw Blackstone Westbroek N.V. acted as Dutch legal counsel to JBS. 

The MinterEllison team was led by Michael Scarf (Partner, M&A/Capital Markets) and included Katrina Groshinski (Board Chair and Partner, Competition); Alex Beagley, Thomas Galloway and Danica Smith (Senior Associates, M&A/Capital Markets); Ryan Tjahjono (Indonesian Practice Group Leader); Stephanie Hanna (Associate, M&A/Capital Markets); and Anna Gallop (Lawyer, M&A/Capital Markets). 

The transaction remains subject to Australian regulatory approvals and customary conditions precedent.