Far East Consortium and New World Development’s Share Acquisition of Rich Fast International

Ashurst represented Far East Consortium (SEHK: 35) and New World Development (SEHK: 17) on the deal.

Far East Consortium and New World Development acquired Rich Fast International, which owns a multi-residential development plot located at Kai Tak (Kowloon Lot 6591) Hong Kong, jointly held by Chinese developer Kaisa Group (SEHK: 1638) and Mr Chen Zhuangrong. 

The transaction represents a disposal by Kaisa Group of a major property development asset in Hong Kong. 

The transaction was led by global co-head of finance, funds and restructuring Jini Lee (Picture), corporate partners Chin Yeoh and Li Jiang, with the support from Lynn Liu, Joanne Tsoi, Roger Dong, Phiona So, Lloyd Meng, Ellie Hung, Aaron Kwong, Kristy Tang and Parmeet Sandhu. Restructuring partners Sophie Lyall and Rob Child provided counsel on the transaction. 

Involved fees earner: Robert Child – Ashurst; Roger Dong – Ashurst; Li Jiang – Ashurst; Jini Lee – Ashurst; Lynn Liu – Ashurst; Sophie Lyall – Ashurst; Lloyd Meng – Ashurst; Chin Yeoh – Ashurst;

Law Firms: Ashurst;

Clients: Far East Consortium International Ltd; New World Development Co. Ltd.;

Giulia Di Palma

Author: Giulia Di Palma