King & Wood Mallesons has advised The Star Entertainment Group on its expanded strategic partnership with Chow Tai Fook Enterprises (CTF) and Far East Consortium (FEC) to enhance the long-term value of The Star's properties and core businesses.
The expanded strategic partnership comprises:
a commitment by the parties to jointly pursue and participate in significant growth developments at or adjacent to The Star's properties;
the establishment of a marketing alliance to drive incremental high-value tourism to The Star's properties; and
a AU$490 million equity placement to CTF and FEC.
The Brisbane-based KWM team was led by M&A partner Rhys Casey supported by senior associate Isaac Evans and solicitors Akshay Naran and Heather Boulton.
Commenting on the deal, Rhys Casey said, "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. It was a privilege to assist The Star on this significant and strategically important transaction".