Kien Huat Realty And Genting Malaysia Berhad’s Acquisition Of Empire Resorts


Paul, Weiss represented the special committee of the board of directors of Empire Resorts, Inc. in its acquisition by Kien Huat Realty III Limited and Genting Malaysia Berhad for $9.74 in cash per share of common stock, and with each share of Empire Resorts’ Series B preferred stock receiving the same consideration on an as-converted to common stock basis.

The purchase price represents a premium of approximately 15 percent over the closing share price of Empire Resorts’ common stock on August 16, the last trading day prior to today’s announcement.

Moelis & Company LLC served as financial advisor to Empire Resorts’ special committee and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as its legal advisor. Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to Genting Malaysia.

The Paul, Weiss team includes corporate partners Jeffrey Marell (Picture), Raphael Russo and David Huntington and counsel Bruce Gruder, Frances Mi and Patricia Vaz de Almeida; litigation partners Geoffrey Chepiga and Aidan Synnott; bankruptcy partners Elizabeth McColm and Brian Hermann and counsel Samuel Lovett and Sarah Harnett; real estate partner Harris Freidus; antitrust counsel Marta Kelly; tax counsel Todd Hatcher; international trade counsel Richard Elliott; and environmental counsel William O’Brien.

Involved fees earner: Geoffrey Chepiga – Paul Weiss Rifkind Wharton & Garrison; Richard Elliott – Paul Weiss Rifkind Wharton & Garrison; Harris Freidus – Paul Weiss Rifkind Wharton & Garrison; Bruce Gruder – Paul Weiss Rifkind Wharton & Garrison; Sarah Harnett – Paul Weiss Rifkind Wharton & Garrison; Todd Hatcher – Paul Weiss Rifkind Wharton & Garrison; Brian Hermann – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Samuel Lovett – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Marell – Paul Weiss Rifkind Wharton & Garrison; Elizabeth McColm – Paul Weiss Rifkind Wharton & Garrison; Frances Mi – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Raphael Russo – Paul Weiss Rifkind Wharton & Garrison; Aidan Synnott – Paul Weiss Rifkind Wharton & Garrison; Patricia Vaz de Almeida – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Paul Weiss Rifkind Wharton & Garrison;

Clients: special committee of the board of directors of Empire Resorts;

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Author: Ambrogio Visconti