Cleary Gottlieb is representing long-time clients Genting Malaysia Berhad and Kien Huat Realty III Limited (Kien Huat) in their proposed joint acquisition of the shares of Empire Resorts Inc. (Empire Resorts) not already held by Kien Huat for $9.74 per share.
Kien Huat currently owns approximately 86% of Empire Resorts, and in connection with the proposed acquisition, Genting Malaysia Berhad has agreed to acquire approximately 38% of Kien Huat’s interest in Empire Resorts.
Genting Malaysia Berhad, a Malaysian-based company, is a developer and operator of destination resorts, casinos, cruise ships, and hotels around the world. Kien Huat is an affiliate of Genting Malaysia Berhad. Empire Resorts is a publicly traded gaming and entertainment company, whose common stock is traded on the NASDAQ Global Market.
For more information, please see the press release here.