Legal DealFolio - China Life Trustees Acquisition of Taipingqiao Property Development Project, Shanghai

Leading international law firm Clifford Chance has advised China Life Trustees, a wholly owned subsidiary of China Life Insurance (Group) Company Limited, on its acquisition of Lot 126, Taipingqiao property development project in Shanghai. The acquisition is structured as a share purchase from Taipingqiao Holding Company Limited, a platform holding company of China Xintiandi Holding Limited, and a purchase of intercompany loan from Shui On Development (Holding) Limited. The total consideration for the acquisition is estimated to be RMB3.32 billion. The sale and purchase agreement was signed on 4 December 2013. Lot 126, also referred to as 5 Corporate Avenue, Phase II, is located in Huangpu District, Shanghai with an estimated leasable and saleable gross floor area of approximately 79,000 sqm. It is currently under development and is expected to be completed between 2013 and 2014. Upon completion, it will accommodate a Grade A office building and a high-end shopping mall. Kelly Gregory led the transaction and was supported by senior associate Yan Yuan, with corporate partner Jean Yu and associate Tianning Xiang providing advice on Hong Kong Stock Exchange matters .

Deal Date:	05-12-2013	Practice Area:	Real Estate
Deal Title:	China Life Trustees Acquisition of Taipingqiao Property Development Project, Shanghai	Industry:	Real Estate Investment & Services
Description:	Leading international law firm Clifford Chance has advised China Life Trustees, a wholly owned subsidiary of China Life Insurance (Group) Company Limited, on its acquisition of Lot 126, Taipingqiao property development project in Shanghai. The acquisition is structured as a share purchase from Taipingqiao Holding Company Limited, a platform holding company of China Xintiandi Holding Limited, and a purchase of intercompany loan from Shui On Development (Holding) Limited. The total consideration for the acquisition is estimated to be RMB3.32 billion. The sale and purchase agreement was signed on 4 December 2013. Lot 126, also referred to as 5 Corporate Avenue, Phase II, is located in Huangpu District, Shanghai with an estimated leasable and saleable gross floor area of approximately 79,000 sqm. It is currently under development and is expected to be completed between 2013 and 2014. Upon completion, it will accommodate a Grade A office building and a high-end shopping mall. Kelly Gregory led the transaction and was supported by senior associate Yan Yuan, with corporate partner Jean Yu and associate Tianning Xiang providing advice on Hong Kong Stock Exchange matters .
Financial Center:	Shanghai	Value:	500.01-1000.00
Advised Party:	Purchaser	Law Firm	Clifford Chance
Real Estate Jurisdiction	China	Purchaser Jurisdiction	China
Classification:	Real Estate Acquisitions and Disposals Office	Lawyer	Kelly Gregory

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