Centro US Asset sale - $1.4bn (equity value approx.)
Firm: Freehills
Lead Lawyers: Rebecca Maslen-Stannage, Peter Stawell, Evelyn Halls
Client: Centro Properties Group
Firm: Skadden, Arps, Slate, Meagher & Flom LLP
Client: US Counsel to Centro Properties Group
Firm: Gilbert + Tobin
Lead Lawyers: Peter Cook, Adam Laura
Client: Blackstone Group
Firm: Simpson Thatcher
Client: Blackstone Group
• This deal is part of a series of proposed transactions, linked to the US$9.4bn sale of Centro’s managed funds of US assets to a fund managed by the Blackstone Group. A major restructure of Centro’s headstock debt and amalgamation of various funds including the Centro Retail Group are also underway
• Freehills has advised relationship client Centro since the retail giant first fell victim to the credit crunch in late 2007 and also acts for the Centro Properties Group in relation to two shareholder class actions
• Simpson Thatcher and the Blackstone Group have a longstanding client relationship. Blackstone engaged the US firm to advise on a failed US$10bn joint bid for General Growth properties, which is now bankrupt. Chief legal officer John Finley also spent 22 years as partner at Simpson Thatcher

Marubeni Corporation acquisition of 40% stake in Osmoflo – undisclosed
Firm: Kelly & Co
Lead Lawyer: Steve Bonnett (special counsel)
Client: Marubeni
Firm: Thomsons Lawyers
Lead Lawyer: Loretta Reynolds
• Global firm Marubeni is entering the Australian water and desalination market with the purchase of a 40% stake in leading desalination company Osmoflo. The deal positions water as one of Marubeni’s most important sectors
• This is the first time Kelly & Co and Marubeni have worked together. A global accounting firm referred Marubeni to Kelly & Co
• Thomsons Lawyers has had an active 2011. It also advised Constellation Wines on its sale to CHAMP private equity
Other deals announced this week:
• Beach energy takeover of Impress energy
• Macarthur Minerals private placement

For full details click here to be taken to the ALB deals website