Appleby acted as BVI, Isle of Man and Jersey counsel for the Nan Fung Group in relation to its investment into the Chinese developer, the Forterra Trust.
This included the purchase of Oriental Management Services Limited (OMS) and its related subsidiaries. The underlying assets of OMS include the trustee-manager and property manager of the Forterra Trust.
Nan Fung will acquire 29.98 per cent of the units of the Forterra Trust at a value of approximately US$178 million and the entire shareholding of OMS, which owns Forterra Real Estate Pte. Ltd and Treasury Holdings (Shanghai) Property Management Co. Ltd, at a value of approximately US$23 million.
Nan Fung’s acquisition signals its interest to expand its presence in the commercial property sector in China.
The Appleby team was led by John Melia, corporate & commercial partner of Appleby, and assisted by counsel, Alastair Drummond, and senior associate, Rupen Shah. Deacons advised Nan Fung as to Hong Kong law.
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