DEALS
Zhong Lun Advises SOHO China on Acquisition of New World Changning Commercial Center in Shanghai
Zhong Lun Advises SOHO China on Acquisition of New World Changning Commercial Center in Shanghai
On May 6, 2011, SOHO China Limited ("SOHO China") announced the signing of an agreement with Shanghai Trio Property Development Company Limited to acquire Shanghai New World Changning Commerical Center Buildings office buildings A and B including underground space for RMB 3.2 billion. Upon completion of the acquisition the development will be renamed "SOHO Zhongshan Plaza".
This is SOHO China´s seventh acquisition in Shanghai within two years time, and is the highest priced acquisition in Shanghai yet. This acquisition is third in a series of acquisitions made since April 1, 2011. The acquisition represents the continuation of SOHO China´s consistent strategy to focus on commercial property in Beijing and Shanghai’s prime locations situated along major transportation networks.
Zhong Lun Law Frim acted as legal counsel for SOHO China in the acquisition. The professional service team included partner Hao Han and attorney-at-law Shi Yi and Wang Minghui. Services included transaction structure design, due diligence on the project and project company, documentation and negotiations.