Paul Hastings Represents Strategic Hotels & Resorts on Acquisition of Four Seasons Properties from Woodbridge and Related Private Placement of Common Stock
New York, NY
(March 14, 2011) - Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced that the firm represented Strategic Hotels & Resorts, Inc., a real estate investment trust (REIT) that owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe, on the acquisition of the Four Seasons Jackson Hole and Four Seasons Silicon Valley from The Woodbridge Company Limited in exchange for 15.2 million shares of common stock at an agreed upon issuance price of $6.25 per share, valuing the acquisition at $95 million.
Strategic Hotels & Resorts also concurrently privately placed an additional 8 million shares of common stock to Woodbridge at an issuance price of $6.25 per share resulting in total gross proceeds of $50 million in cash.
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