Norton Rose Fulbright has advised The Hong Kong Parkview Group on its acquisition of a commercial property portfolio, valued at HK$14.2 billion ($1.83 billion), from COFCO Land Ltd.
The acquired portfolio consists of several commercial, office and hotel properties in China and Hong Kong.
The Hong Kong Parkview Group is a Hong Kong-listed company, and is controlled by COFCO (Hong Kong) Ltd. Once the deal is completed, The Hong Kong Parkview Group is expected to change its name to COFCO Land Holdings Ltd.
Hong Kong corporate partner Psyche Tai led the Norton Rose Fulbright team on the transaction, with assistance from partner Winnie Chan and foreign legal consultant Andrew Bleau in Hong Kong.
HSBC was the financial adviser and sole sponsor to The Hong Kong Parkview Group, and was advised by Freshfields Bruckhaus Deringer.
“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,” said Tai in a statement.
Kanishk Verghese is North Asia journalist at ALB. Follow us on Twitter: @ALB_Magazine.
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