Global law firm Ashurst represented Far East Consortium (SEHK: 35) and New World Development (SEHK: 17) on the acquisition of 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.
Lead partner Jini Lee commented, “We are pleased to have successfully completed this transaction within a short time period. This is through the collaboration of our various capabilities including our corporate, finance and restructuring teams, providing a holistic solution which helped our clients in achieving their commercial objectives.”
The transaction was led by global co-head of finance, funds and restructuring Jini Lee, 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.