Top trio help as Crown Resorts sells assets

The deal is a component of a massive $700m divestment plan

Top trio help as Crown Resorts sells assets
Three top firms are advising in a deal that’s part of Crown Resort’s massive $700m divestment plan.

MinterEllison, Baker McKenzie, and Ashurst are acting in the sale of Crown Resort’s 50% stake in the Packer family’s luxury Ellerston property in the Hunter Valley. The stake was sold to James Packer’s Consolidated Press Holdings (CPH) and Gretel Packer-associated RPSCO Pty Ltd.

The $62.5m deal, which is expected to close later this month, is part of a larger divestment plan that includes the $60m sale of two floors of its luxury Crown Sydney complex to James Packer.

Crown Resorts is also selling a vacant lot in Las Vegas to a Wynn Resorts unit for $264m, as well as 4.2 million shares in Ceasars Entertainment, a stake valued at about $54m. Shares of the gaming and entertainment giant rallied last month after news of the divestment plan.

Crown Resorts is advised by Ashurst, with a team led by corporate partner Anton Harris.

MinterEllison is acting for CPH, while Baker McKenzie is acting for RPSCO. EY is the tax advisor to Crown.


Related stories:
Firm boosts finance expertise in the US with two hires from rivals
Firm doubles down on Sydney teams

Recent articles & video

International Bar Association highlights legal risks from digital twinning projects

Former Dentons US CEO Mike McNamara leads legal advisory firm

Allen & Overy and Shearman & Sterling name 40 partners for the merged firm

QIC GC joins HSF as executive counsel

Pinsent Masons helps Italian company secure majority stake in Vanity Group

DLA Piper helps Indian tech company to boost customer service offering with acquisition

Most Read Articles

Lander & Rogers practice co-head signs on with NRF

BlueSky co-founder: Too many assumptions are made about returning mothers

Hall & Wilcox partner: ‘What we do is tangible’

Melbourne lawyer makes partner in massive promotions round at Pinsent Masons