DEALS
Zhong Lun Advises SOHO China on Acquisition of Shanghai Greentown
Zhong Lun Advises SOHO China on Acquisition of Shanghai Greentown
On April 16, 2012, SOHO China Limited entered into an agreement with Greentown Real Estate Group Co., Ltd. (Greentown Group) and Maanshan Hualong Real Estate Development Co., Ltd. for acquisition of 100% shares in Shanghai Greentown Real Estate Co., Ltd. (Shanghai Greentown). Zhong Lun Law Firm acted as legal counsel for SOHO China and provided legal services for the RMB 2,138 million acquisition.
Shanghai Greentown owns a real estate development project at Tianshan Road, Changning District, Shanghai. This transaction represents the 11th acquisition of SOHO China since August 2009 when it stepped into the real estate market in Shanghai. The cumulative amount of acquisitions reached RMB 25.5 billion. This acquisition is also the second transaction of SOHO China with Greentown Group after its transaction with Zendai Group and Greentown Group on Lujiazui 8-1 project at the end of 2011. For Greentown Group subjected to the shortage of funds, this transfer could effectively relieve its shortage of funds in the current difficult market environment. This transaction was also given positive feedbacks from the market.
As SOHO China’s long-term strategic partner, Zhong Lun continued to provide high-quality legal services for SOHO China on the transaction structure, due diligence, documentation and negotiation through its professional team composed of partner Hao Han, Wen Na, Ma Lin and Wu Yun.