O’Melveny recently represented Ngai Shun Holdings Limited (Ngai Shun; Stock code: 1246), a Hong Kong-listed company, in its acquisition of Anway Real Estate Limited for a total consideration of US$141 million, and issuance of new shares for an aggregate amount of US$66.8 million.
Anway, through its wholly owned PRC subsidiary, owns a property under development in Shanghai. The property will be developed into a healthcare resort for affluent seniors in Shanghai.
Ngai Shun acquired Anway from a subsidiary of Boill Holding Group Company Limited and the subscription shares were issued to an affiliate of Boill. Boill is a real estate developer in the PRC named among “China’s Top 100 Real Estate Developers” for seven consecutive years since 2010. Boill has become the single largest shareholder in Ngai Shun since the completion of the subscription and acquisition.
The Hong Kong-based O’Melveny team was led by partner Edwin Kwok (Picture), and included counsel Lillian Cheung and associates Wendy Kan and Cliff Yung.
Law Firms: O’Melveny & Myers LLP;
Clients: Ngai Shun Holdings Limited;