Freehills, Clayton Utz, and Maddocks are acting for Australian shopping mall developer and operator Centro Properties Group on a $7 billion restructuring. The reorganization plan, passed by the Supreme Court of New South Wales, will eliminate $3 billion worth of debt for Centro. Freehills is the main legal adviser to Centro, while Clayton Utz and Maddocks are co-advising one of the company’s investment funds, Centro Retail Group. Freehills partners Rebecca Maslen-Stannage, Peter Stawell, and Evelyn Halls are advising Centro. Corporate partners Brendan Groves and John Moutsopoulos are leading Clayton Utz’s team on the restructuring. Maddocks’s team is headed by partner Ron Smooker. Johnson Winter & Slattery partners Shelley Hemmings, Jim Hunwick, David Proudman, Kate Fitzgerald, and John Keeves are acting for the Centro-controlled funds. The senior lenders have turned to Allens Arthur Robinson partners Simon Lynch, Craig Henderson, and Penny Nikoloudi. [Read full story]
Minter Ellison, Latham & Watkins, Simpson Thacher & Bartlett, and Mallesons Stephen Jaques have advised on the $364 million sale of Australian organic skincare brand Jurlique International Pty. Ltd. Japanese cosmetics group Pola Orbis Holdings Inc. has acquired Jurlique, which distributes its products primarily in Asia, Australia and the U.S., from San Francisco-based private equity firm JH Partners and Australian media investment holding company Consolidated Press Holdings Ltd. The acquisition will help Tokyo-listed Pola Orbis push forth its overseas expansion. Simpson Thacher acted for Pola Orbis with a team of partners including Takahiro Saito, Sean Rodgers David Rubinsky. Mallesons partners David Friedlander and Jim Boynton led the firm’s team, also for Pola Orbis. Minter Ellison partner Callen O’Brien advised Jurlique on the Australian and Chinese aspects of the deal. Latham & Watkins also advised Jurlique with partners with partner Robert Burwell taking the lead.
