Kai Tak Sports Park Limited’s $3.8 Billion Tender Offer

Clifford Chance has advised Kai Tak Sports Park Limited, a consortium consisting of New World Development and its subsidiary NWS Holdings, on the successful award of a 25-year contract to design, build and operate the Kai Tak Sports Park at a construction contract sum of HK$29.99 billion (US$3.8 billion).

The successful award by the Hong Kong Government followed a tendering process that started more than 18 months ago, and culminated recently with a groundbreaking ceremony officiated by HKSAR Chief Executive the Honourable Mrs. Carrie Lam.

Occupying a 28-hectare site in the north apron area of the former Kai Tak International Airport, the Kai Tak Sports Park is the largest and most important sports infrastructure project in Hong Kong in decades. In addition to sports and leisure facilities such as a 50,000-seat stadium with retractable roof and an indoor sports centre, the project also includes commercial facilities and extensive public open space.

A cross-border and cross-practice team led by Hong Kong partners Frank Yuen (Picture) and Dauwood Malik, and Singapore partner Matthew Buchananadvised on the tender and related contracts and commercial arrangements. In Singapore, they were supported by counsel Danielle Delbridge, senior associates James Clark and Per Lindberg, and associates Almiro Clere and Christine Yassa. In Hong Kong, they were supported by senior associate Michael Pallaras, Ryan Wong and Kenneth Yu, and associate Jeff Wong.

Partners Virginia Lee (Hong Kong), Luke Grubb(Singapore) and Clara Tang (Hong Kong), and senior associates Warwick Lindsay (London) and Sally Murphy (Singapore) also formed part of the team.

Involved fees earner: Matthew Buchanan – Clifford Chance; James Clark – Clifford Chance; Almiro Clere – Clifford Chance; Danielle Delbridge – Clifford Chance; Luke Grubb – Clifford Chance; Virginia Lee – Clifford Chance; Per Lindberg – Clifford Chance; Warwick Lindsay – Clifford Chance; Dauwood Malik – Clifford Chance; Sally Murphy – Clifford Chance; Clara Tang – Clifford Chance; Christine Yassa – Clifford Chance; Frank Yuen – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Kai Tak Sports Park Limited ;

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Author: Michael Patrini