Global legal practice Norton Rose Fulbright has advised COFCO Land Holdings Limited on its acquisitions of the minority interests in Jetway Developments and Yalong Development (HK) Company.
The aggregate consideration was approximately HK$2 billion which was satisfied by the issue and allotment of shares in COFCO Land to the respective sellers.
COFCO Land is principally engaged in the development, operation, sale, leasing and management of mixed-use complexes and commercial properties in China and Hong Kong.
Jetway Developments Limited holds a commercial property project located in Shanghai, China, while Yalong Development (HK) Company Limited holds an integrated tourist project located in Yalong Bay National Resort District in Sanya, China. The two companies became wholly-owned subsidiaries of COFCO Land upon the acquisitions, which were completed in August 2014.
Norton Rose Fulbright has also advised COFCO Land on the HK$14.2 billion reverse takeover of a property portfolio of commercial, office and hotel properties in China from COFCO Land Limited last year.
The team was led by in Hong Kong by corporate partner Psyche Tai, assisted by senior associate Doris Ng.
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