Simpson Thacher is representing funds managed by Blackstone Inc. and its affiliates (“Blackstone”) in connection with its announced acquisition of Crown Resorts Limited (ASX: CWN) for AUD13.10 (approx. US$9.35) per share in cash, representing an equity value of approximately US$6.3 billion. Blackstone funds already hold approximately 9.99% of Crown Resorts’ outstanding shares. The transaction will be undertaken by way of a scheme of arrangement and is subject to customary closing conditions, including shareholder and regulatory approvals and sanction of the scheme by the court.
Crown Resorts is Australia’s largest gaming and entertainment group and owns and operates two of Australia’s leading integrated resorts, Crown Melbourne and Crown Perth, as well as Sydney’s latest premium hotel resort and dining precinct at Crown Sydney.
The Simpson Thacher team includes: Anthony King, Jonathan Stradling, Zhouzhou (Max) Guo and Tiffany Shih (M&A); Makiko Harunari, Alvin Kwong, Scott Zhang and Elaine Ruan (Financing); and Steven Klar, Peter Vassilev and Peter A. Thomas (Private Funds).