Norton Rose Fulbright has advised China Overseas Land & Investment Limited, a Hong Kong-listed company, on its acquisition of a property portfolio from China State Construction Engineering Corporation Limited.
The property portfolio comprises of property projects located in Beijing, Shanghai, Tianjin, Chongqing, Suzhou, Chengdu, Xian, Urumqi, Changsha, Weifang and Zibo in the People’s Republic of China and London in the United Kingdom. The consideration for the acquisition, together with the amount of the loans to be assumed by the Company upon completion, is HK$42.8 billion, equivalent to approximately US$5.5 billion.
As a packaged deal, China Overseas Land & Investment Limited has also agreed to issue 1,686,605,875 new shares to China Overseas Holdings Limited for the same consideration.
China State Construction Engineering Corporation Limited is a company incorporated in the People’s Republic of China, the shares of which are listed on the Shanghai Stock Exchange.
The financial advisor for the transaction is HSBC.
The team was led by Hong Kong partner Psyche Tai, assisted by senior associate Doris Ng and associate Michelle Tsang.
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