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The Star advised on expanded strategic partnership
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‘They are not in detention’, says former A-G re kids on Nauru:

The Star advised on expanded strategic partnership

strategic partnership

The entertainment giant has been advised on an expansion of its strategic partnership and equity placement in order to enhance the value of its properties and businesses.

Firm: King & Wood Mallesons (The Star Entertainment Group); HWL Ebsworth (Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC)).

Deal: KWM has advised The Star on its expanded strategic partnership with CTF and FEC, which comprises a commitment by all parties to jointly pursue and participate in “significant growth developments” at or adjacent to The Star’s properties, and the establishment of a marketing alliance to drive incremental high-value tourism to The Star’s properties.

In addition, the partnership involves a $490 million equity placement to CTF and FEC.

Value: $490 million in equity, in addition to other agreements.

Area: Mergers and Acquisitions.

Key players: The Brisbane-based KWM team was led by M&A partner Rhys Casey, who was supported by senior associate Isaac Evans and solicitors Akshay Naran and Heather Boulton.

Deal significance: Speaking about the deal, Mr Casey said it was a privilege for the firm to assist The Star on this “significant and strategically important” transaction.

“The transaction recognises the strength of The Star’s relationships with CTF and FEC and will further align the interests of CTF and FEC with the long-term growth aspirations of The Star,” he said.

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