The Macau Metro Monitor, July 18, 2012
SANDS WAS CLOSE TO FOUR SEASONS APPROVAL BEFORE LEAKS: BUSINESS DAILY Macau Business
According to sources, Sands China was very close to reaching a deal with the government allowing it to transfer its Four Seasons luxury apartment hotel in Cotai to a subsidiary, in which shares to right of use of its units could be sold. But the email leaks involving messages between former Sands legal adviser Leonel Alves, and fired former CEO Steve Jacobs put the deal on hold. The deal could be worth up to US$1 billion (MOP8 billion).
The Four Seasons deal was to be in return for Sands dropping a lawsuit against the government for its decision to not award the company lots seven and eight in Cotai. One source told Business Daily: “Once the fresh allegations were published in The Wall Street Journal it became too difficult for the government to let the Four Seasons apartment deal go through.”