Zhong Lun, Paul Weiss and Baker & McKenzie have recently helped fulfil the Walt Disney China dream. The three firms have together advised Disney and Shanghai Shendi Group on their JV to build its very first Chinese Disneyland in Shanghai. The project is said to be worth US$3.5bn.

According to the agreement, Disney will take a 43% stake in Shanghai Disney, while Shendi’s three shareholders (who will fully finance the project) will own the other 57%.

Jeanette Chan, lead partner for Paul Weiss, commented that the deal has taken place across an extended timeframe due to its intricate complexities and the stringent approval processes. “This is a major infrastructure deal and it is complicated because the JV itself requires advice from many other practice sectors.

Management, land development, infrastructure, tax, finance, licensing and IP agreements are all prerequisites,” said Chan. The firm also advised the Shanghai Government on the transaction

Zhong Lun is the sole PRC counsel on the deal and has been involved in the negotiation and documentation of the project since 2006.

The JV is subjected to MOFCOM and other relevant approvals. ALB

Related stories:

• Grandall, Zhong Lun and King & Wood top ChiNext IPO legal advisor league (11 November 2010)
• Nagashima Ohno, Mori Hamada and Paul Weiss help Mitsubishi UFJ Financial raise US$12.1bn (12 January 2010)