Clifford Chance (CC) has advised on two major Asia deals that have seen longstanding client Permira sell a HK$5.85bn (£475m) stake in a casino and hotel operator while acquiring a sushi chain for $1bn (£630m).

The European private equity group has sold a 7% stake in Macau casino resort operator Galaxy Entertainment after it sold a further 6.5% of its 20% stake in the Hong Kong investment holding company last September.

The identity of the investor was not disclosed.

CC advised Permira on the sale with a team led by Tokyo corporate partner Andrew Whan and Hong Kong M&A partner Neeraj Budhwani.

The second deal saw Permira add Japanese sushi restaurant chain Akindo Sushiro to its portfolio for around $1bn, including the assumption of debt.

The chain, which operates 335 revolving counter sushi bars, opened its first overseas outlet in Seoul last December and is reportedly considering further international expansion.

Whan also led the CC team on the deal, advising investment company Consumer Equity Investments, which is indirectly owned by Permira.

Japanese law firm Mori Hamada & Matsumoto advised Akindo, with a team led by M&A partner Gaku Ishiwata and M&A partner Rintaro Shinohara.

CC's role comes after it advised Permira portfolio company New Look on its £1.1bn debt restructuring in July.