Warburg Pincus affiliate acquires controlling interest in Asian Coast Development

By way of Plan of Arrangement, West Cove Ventures, an affiliate of Warburg Pincus, acquired a majority interest in the parent company of The Grand Ho Tram Strip, a hotel and casino resort located in Vietnam. The transaction was completed by way of plan of arrangement under the law of British Columbia. The transaction, completed by way of Plan of Arrangement under BC Law, included an initial subscription of shares by West Cove, forgiveness and conversion of substantial debt and equity by certain shareholders, and a recapitalization of the company which owns the Grand Ho Tram Strip, a hotel resort and casino located in Vietnam.  

Total value in excess of CDN$395m (subscription price plus debt forgiveness).

MEP Business Counsel (Vancouver), represented Asian Coast Development (Canada) Ltd. with a team that included Marshall Pawar (Lead Counsel), Jennifer MacGregor-Greer, Zakhir Nathoo (each Corporate / M&A));

Borden Ladner Gervais LLP (Toronto), represented former controlling shareholder, Harbinger Capital Partners with a team that consisted of Anthony Milazzo (Lead Counsel, Corporate/M&A) and Danny Lang (Tax),

Latham & Watkins LLP (Hong Kong), represented West Cove Ventures with a team including Amy Beckingham (Lead Counsel), Gwenlynne Lee, Nathan Ma (each Corporate/M&A)

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