Practice Areas - Corporate and M&A Law Firms and Lawyers
| Deal Date: | 19-05-2014 | Practice Area: | Corporate and M&A |
| Deal Title: | China Development Bank Acquisition of China New Town Development | Industry: | Real Estate Investment & Services |
| Description: |
Herbert Smith Freehills has advised China Development Bank International Holdings (CDBIH) on its HKD1.45 billion subscription of shares in Hong Kong- and Singapore-listed China New Town Development Company Limited.
The subscription gives CDBIH, a wholly-owned subsidiary of state-owned China Development Bank Corporation, 5,347,921,071 shares representing approximately 54.32% of the total number of shares issued. The subscription makes CDBIH the controlling shareholder of China New Town Development, a China-focused real estate developer.
The Herbert Smith Freehills team on the transaction was led by Hong Kong-based partner Gary Lock and Singapore managing partner Michael Walter. They were supported by Singapore of counsel Kwok Hon Yee, and associates Ruth Lau, Eugene Lau and Yap Cui Xian.
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| Financial Center: | Hong Kong | Value: | 1000.01-5000.00 |
| Advised Party: | Acquiror | Law Firm | Herbert Smith Freehills |
| Target Company Jurisdiction: | China | Acquiror Jurisdiction: | China |
| Classification: |
Strategic Buyer Acquisitions Public Company - Recommended Offer |
Lawyer | Gary Lock |
