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HWL Ebsworth advises Chow Tai Fook Enterprises and Far East Consortium on major placement

HWL Ebsworth has advised Hong Kong based companies Chow Tai Fook Enterprises Ltd (CTF) and Far East Consortium International Ltd (FEC) on their $490 million share subscription agreement and strategic alliance agreement with The Star Entertainment Group Limited (The Star).

Under the subscription agreement, CTF and FEC each subscribed for 45.8 million shares in The Star at $5.35 per share, giving each of CTF and FEC a 4.99% stake in The Star. Completion is scheduled to occur on 16 April 2018.

The strategic alliance agreement provides a framework for the three parties to work together to collaborate on potential mutually beneficial development opportunities, establish a marketing alliance and further grow each of their businesses. The parties are currently working together on development projects in Australia.

Melbourne-based corporate partners Stephen Kerr and David Woodford led the capital markets transaction.

The transaction demonstrates the strength of HWL Ebsworth’s capital markets practice, and in particular its Asian capability to facilitate Asian inbound and outbound investment.

Note to Editors:

HWL Ebsworth is the largest legal partnership in Australia according to the most recent partnership surveys published by The Australian and the Australian Financial Review and is the only commercial law firm with an office in every Australian State and Territory.

The firm comprises 1,186 staff including: 241 Partners, 608 other legal staff and 337 support staff across offices in nine locations – Adelaide, Brisbane, Canberra, Darwin, Hobart, Melbourne, Norwest (North West Sydney), Perth and Sydney.

HWL Ebsworth is an independent, nationally integrated, full service commercial law firm, providing tailored and commercially oriented legal services.

HWL Ebsworth operates a different business model to the other leading national law practices, and this allows us to offer unrivalled value for money without compromising quality and service. Our low ratio of solicitors to partners ensures that our clients receive optimal access to partner resources for all matters.

For further information, please contact:

Russell Mailler, National Marketing Manager (03) 8644 3569 or rmailler@hwle.com.au