Clifford Chance Sydney partner Lance Sacks and Hong Kong partner Crawford Brickley are advising Royal Dutch Shell Plc. on a $5.7 billion divestment of most of its interest in Australian oil and gas company Woodside Petroleum Ltd. Shell is reducing its stake in Woodside from 21.3 percent to 4.5 percent. The oil giant is planning to sell half the shares it is offloading to institutional investors. Woodside has agreed to buy back the other half, subject to shareholder approval. Herbert Smith Freehills Sydney partner Philippa Stone and Perth partner David Gray are representing Woodside. [Read full story]
Allens Sydney partners Thomas Story and Stuart McCulloch are advising Singapore-based real estate group Frasers Centrepoint Ltd. on a $2.4 billion bid for Australia’s Australand Property Group, which has a portfolio of 68 properties in Sydney, Melbourne, Perth, Adelaide and Southeast Queensland. Frasers’ offer is higher than the $2.35 billion bid previously by Sydney-based Stockland Corp. Ltd., which has said it is considering its options. WongPartnership partners Ng Wai King, Andrew Ang, Annabelle Yip and Audrey Chng are serving as Singapore counsel to Frasers. Corrs Chambers Westgarth Sydney partner Andrew Lumsden is acting for Stockland. King & Wood Mallesons Sydney partner Brian Murphy is representing Australand on the deal. [Read full story]
