Herbert Geer and Latham & Watkins have jointly advised Village Roadshow Entertainment Group (VREG) on a US$380 million recapitalisation.
The recapitalisation included the injection of US$275 million in new capital as part of a six-year mezzanine and equity arrangement with Trinity Opportunities Limited (Trinity) arranged by the Company in conjunction with Hong Kong-based Shikumen Capital Management (HK) Limited, the firm said in a statement.
With the transaction having a complex split between mezzanine debt and equity, Herbert Geer and Latham & Watkins LLP jointly advised VREG on the transaction.
Partners Peter Nankivell and Michael Truelove led the Herbert Geer team in the current transaction with specialist tax advice from special counsel Tony Pane and corporate Senior Associate, Wendy Miler.
Herbert Geer chair Peter Nankivell said the deal invovled drawing on the firm’s capabilities across its corporate, M&A and financing areas.
“Herbert Geer and Latham & Watkins have advised VREG on numerous transactions and this was another example that demonstrates the way in which both firms worked collaboratively “
Specialist British Virgin Islands advice on the transaction was provided by Michael Gagie at Maples & Calder.
Trinity was advised by Akin Gump Strauss Hauer & Feld LLP out of Hong Kong and Los Angeles. Andrew Abernethy and Zach Wittenberg in the Hong Kong office led the transaction.
Herbert Geer is VREG’s longstanding adviser on corporate transactions. In 2008, Herbert Geer was also instrumental in advising on the merger of Village Roadshow Pictures with the Concord Music Group.