DEALS
Zhong Lun Helps Complete the Market's First Swap of Real Estate Business for New Energy Business
Zhong Lun Helps Complete the Market's First Swap of Real Estate Business for New Energy Business
Tianjin Guangyu Development Co., Ltd. (stock code: 000537, "Guangyu Development"), a listed company indirectly controlled by China Green Development Investment Group Co., Ltd., has recently completed a major asset swap, major asset sale and connected transaction (collectively, the "Project"), whereby Guangyu Development shifts its main business from real estate development and sales to green energy business, including investment in and development and operation of wind and solar power generation projects. As the first project in the market to exchange real estate business of a listed company for new energy business, the Project provides a valuable precedent for listed companies to follow suit in the capital market against the backdrop of China’s efforts to push for "double carbon" goals.
Zhong Lun acted as legal advisor for Guangyu Development and provided full-range services for the Project from the design of a restructuring plan, due diligence, drafting and revision of transaction documents to the closing. The mandate was headed by partners Jieli Li and Shiwei Zhang and senior consultant Hua Wang. The team also included Xu Shen, Yunxiang Liu, Siqi Lu, Ajun Yan, Zhen Xue, Yifu Xu, Shuo Li, Chuanpeng Liu, Wenchao Chen and Peiyan Yan.
