LONDON, SINGAPORE – LAWFUEL – UK Legal News – Allen & Overy Shook Lin & Bok Joint Law Venture in Singapore and Allen & Overy LLP London offices advised arrangers Barclays Capital, Citibank N.A., DBS Bank Ltd, HSBC Bank plc and The Royal Bank of Scotland plc on the GBP368 million bid finance facility for the acquisition of gaming operator, Stanley Leisure plc, by Genting International Investment (UK) Limited, a wholly owned subsidiary of Genting International PLC.
The all cash offer which was announced late on Sunday evening has been recommended by the board of Stanley Leisure plc.
Malaysian based Genting International PLC is a leading integrated resorts specialist with over 20 years of international gaming expertise and global experience in developing, operating and marketing casinos and integrated resorts in south-east Asia, the Americas and the United Kingdom.
Commenting on the deal, partner John Richards said: “We are extremely pleased to have played a significant role in this transaction, particularly as the gaming industry is currently a hot topic in Singapore and the region, as a result of the Singapore Government’s decision to award two casino licences by 2009.”
Partner Simon Roberts said: “This deal again demonstrates the strength of Allen & Overy’s global network and our ability to close complex deals in challenging timeframes, in this case just four days.”
The Allen & Overy team was led by Singapore-based partner John Richards and assisted by senior associate in Singapore, Harry Upcott, and London-based partner Simon Roberts.
Clifford Chance, London acted for the Genting Group and Slaughter and May, London provided legal advice to joint financial advisers Citigroup and HSBC.
For further information, please contact John Richards (john.richards@allenovery.com) on +65 6435 7402 or Katherine Berry (katherine.berry@allenovery.com) on +65 6435 7415, in Singapore, or Sarah Fitzpatrick (sarah.fitzpatrick@allenovery.com) on +44 7330 2395, in London.
