Orica Limited (ASX:ORI) signed an agreement to acquire Terra Insights from Vance Street Capital II, L.P. managed by Vance Street Management LLC for approximately CAD 510 million on December 19, 2023. The acquisition price of CAD 505 million, on a cash free, debt free Enterprise Value basis and associated transaction costs will be funded by Orica?s existing cash and committed undrawn bank debt facilities. The transaction is anticipated to close in the first half of 2024 subject to regulatory approvals and other customary closing conditions.

As per the filling of February 15, 2024, the transaction is expected to be completed by the end of March 2024. on Lazard Ltd (NYSE:LAZ) is acting as financial advisor and O'Melveny & Myers LLP and Davies Ward Phillips & Vineberg LLP are acting as legal advisors to Terra Insights and Vance Street Capital. J.P. Morgan Securities Australia Limited is acting as financial advisor and Gilbert+Tobin is acting as legal advisor to Orica on the Acquisition.