Simpson Thacher & Bartlett, Gilbert + Tobin and Mallesons Stephen Jaques have advised on The Blackstone Group L.P.’s acquisition of a distressed Australian real-estate company.
New York private-equity house Blackstone has agreed to pay $227 million for Valad Property Group. As part of the agreement, Blackstone will also assume Valad’s debts of $655 million. The deal is subject to shareholder and other regulatory approvals.
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