Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that it has advised Rudong Ritai Infrastructure Development & Investment Co., Ltd. (“Rudong Ritai”) on its US$230 million acquisition of equity interests in Rudong Yangkou Port Investment & Development Co., Ltd. (“Rudong Yangkou Port”) from Glory Well Limited, a subsidiary of PYI Corporation Limited, a Hong Kong Stock Exchange listed company.
Rudong Ritai is a company wholly owned by the Rudong county government in Jiangsu, China. Yangkou Port Investment & Development is a Sino-foreign joint venture company that develops and operates the facilities of Yangkou Port, the sole deep-water seaport of Rudong county.
Jia Yan, a partner in Paul Hastings’ corporate practice commented: “We are delighted to have advised Rudong Ritai on its acquisition of equity interests in Rudong Yangkou Port which marks the largest acquisition transaction in Rudong county’s history. Yangkou Port is strategically located at the northern reaches of the Yangtze River Delta and has rare characteristics fit for a deepwater seaport. The development of the port is therefore key to the further growth of Rudong county”.
The Paul Hastings team was led by corporate partners Jia Yan and David Wang.
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