Global Legal Chronicle: Youdao Development International’s US$83 Million Shares Acquisition in CCRE
September 6, 2022
O’Melveny & Myers LLP recently represented Central China Real Estate Limited (CCRE) (0832.HK) and its controlling shareholder, Joy Bright Investments Limited, in the sale of 885 million shares of CCRE stock, or 29.01% of the company, to Youdao Development International (Hong Kong) Limited, a wholly owned subsidiary of Henan Tongsheng Real Estate Company, for approximately HK$648 million (about US$83 million). The O’Melveny team was led by Hong Kong corporate partner Edwin Kwok, and included counsel Lillian Cheung, associates Yuki Tsang, Edward Poon, and trainee solicitor Jeffrey Hang.
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