Deacons advises Vanke Property (Hong Kong) Company Limited on its acquisition of a land site in Wanchai from Soundwill Holdings Limited.
Deacons advises Vanke Property (Hong Kong) Company Limited (a wholly-owned subsidiary of China Vanke Co., Ltd., a company listed on the Shenzhen Stock Exchange) on its acquisition of the entire interest in a company which owns a land site in Wanchai from Soundwill Holdings Limited (a company listed on the Main Board of the Hong Kong Stock Exchange) at a total consideration of HK$860 million, subject to adjustments. Vanke Property has also agreed to acquire from Soundwill the general building plans and related copyright for the proposed redevelopment of the land site at a consideration of HK$400,000.
The sale and purchase agreements were signed on 31 March 2014. Completion is expected to take place on 28 April 2014.
The team was led by Eugina Chan, a partner in the corporate finance group, while the property-related aspects of this transaction were handled by Senior Partner Lilian Chiang.