Global legal practice Norton Rose Fulbright has advised The Hongkong Parkview Group Limited on the HK$14.2 billion acquisition of a commercial property portfolio from COFCO Land Limited.
The Hongkong Parkview Group Limited is a Hong Kong listed company and controlled by COFCO (Hong Kong) Limited.
The property being acquired covers a portfolio of commercial, office and hotel properties. It comprises two mixed use complex projects in Chengdu and Beijing, two commercial projects in Hong Kong and Shanghai, four hotel projects in Beijing, Nanchang and Suzhou, one integrated tourist project in Sanya and three minority-held projects in Shanghai, Sanya and Chengdu.
Psyche Tai, corporate partner, Norton Rose Fulbright Hong Kong, commented:
“The reverse takeover was a complex transaction and was deemed a new listing under the Hong Kong Stock Exchange Listing Rules. It’s the latest in a trend by Chinese real estate companies to list on the Hong Kong stock exchange through reverse takeovers.”
The transaction was led by Corporate partner Psyche Tai and assisted by Corporate partner Winnie Chan, associates Doris Ng, Tiffany Ip and Rosalind Siu as to Hong Kong Regulation aspects. It is also led by US Corporate partner Andrew Bleau and assisted by associates Sarah Guo and Grace Lo as to United States Regulation aspects. The Hongkong and Shanghai Banking Corporation Limited acts as the financial adviser and sole sponsor to The Hongkong Parkview Group.
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