Centro Retail to Sell U.S. Properties to Blackstone Group

Weil, Gotshal & Manges LLP was counsel to Centro Retail, Australia’s largest manager of retail property investment syndicates, in negotiations to sell its portfolio of 588 U.S. shopping centers and its U.S. Service Business to BRE Retail Holdings, Inc., an affiliate of Blackstone Real Estate Partners VI, L.P. The sale is expected to close in mid-2011 and is part of Centro’s proposed restructuring of its capital structure. Blackstone will acquire the Centro’s U.S. business for an enterprise value of approximately $9.4 billion, with total equity proceeds for Centro, Centro Retail Trust, and its other managed funds totaling $1.38 billion. Centro’s proposed restructuring will result in a new entity with a leading Australian portfolio of retail centers.

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WilmerHale Represents Thermo Fisher Scientific in Dual Unit Sale and $2.2B Debt Offering

In deals totaling $940 million in cash, WilmerHale represented Thermo Fisher Scientific Inc. in the sale of two of its businesses. Thermo Fisher has entered into definitive agreements to sell Athena Diagnostics to Quest Diagnostics for $740 million and to sell Lancaster Laboratories to Eurofins Scientific SE for $200 million, subject to a post-closing adjustment. Thermo Fisher expects to close these transactions in the second quarter of 2011.

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Tags:  Wilmer Cutler Pickering Hale and Dorr LLP

Norton Rose Hires Eight New Partners and Opens in Hamburg

International legal practice Norton Rose LLP today announced that it is opening a new office in Hamburg. Seven lawyers will join the new Hamburg office as partners from DLA Piper, these are: Klaus von Gierke, corporate finance; Ulf Liebelt-Westphal and Jens Suhrbier, energy; Ludger Verfürth, financial services; Uwe Eppler, tax; Frank Weberndörfer, employment; and Flemming Moos, IT. In addition, energy partner Corrado Wohlwend will join Norton Rose LLP in Frankfurt.

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Tags:  Norton Rose Fulbright | Germany