KWM acts on expanded partnership and $490m placement

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King & Wood Mallesons (KWM) was the law firm of choice of one of Australia's largest gaming and entertainment companies as it inked an expanded partnership with two Chinese giants.

The Star Entertainment Group has agreed to a pact with Hong Kong-based companies Chow Tai Fook Enterprises (CTF) and Far East Consortium International (FEC). Star expects the partnership to cut exposure to costs and boost dividends.

The alliance bolsters the partnership between the three companies, which was first formed four years ago.

Under the expanded partnership, the parties agreed to jointly pursue and participate in developments at or adjacent to Star properties and establish a marketing alliance to drive high-value tourism to Star properties.

The deal also involves a $490m equity placement to CTF and FEC.

KWM fielded a Brisbane-based team to act for Star. It was led by M&A partner Rhys Casey, who was supported by senior associate Isaac Evans and solicitors Akshay Naran and Heather Boulton.

 

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