Hogan Lovells advises on a significant real estate acquisition
04 November 2015
BEIJING, 3 NOVEMBER 2015 – Hogan Lovells has advised China Cinda Asset Management Co., Ltd. ("Cinda"), a leading distressed investor in China, on the acquisition of all the rights and benefits of, including certain liabilities owed to, the seller in relation to a real estate development project in China from GuocoLand (China) Limited, a company incorporated in Bermuda, for a total cash consideration of RMB10.5 billion (US$1.6 billion).
The real estate project is located in downtown Beijing, with a planned gross floor area of approximately 510,000 square meters, comprising of shopping centers, an office building with twin towers, apartments and hotels.
The transaction was signed and closed on 20 August 2015. Hogan Lovells advised on the offshore side of the transaction together with Cinda's PRC counsel.
The Hogan Lovells team advising Cinda was led by Beijing corporate partner Liang Xu, supported by Hong Kong corporate partner Tim Fletcher, senior associate Kevin Ng, associates Katherine Tsang, Shaokai Wang and Xiaoyi Zhao, and trainee solicitor James Richardson.