O’Melveny Advises Ngai Shun Holdings Limited on Acquisition of Anway Real Estate Limited, Issuance of New SharesMay 12, 2017
FOR IMMEDIATE RELEASE
May 12, 2017—Hong Kong—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, and included counsel Lillian Cheung and associates Wendy Kan and Cliff Yung.
O’Melveny’s clients shape markets, set precedents, and break boundaries. They are stalwarts and innovators, the names you trust, and the next big thing. And for more than a century, O’Melveny has been right beside them, punching through walls and putting up defenses to help our clients achieve their most important goals. With approximately 700 lawyers in 15 offices worldwide guided by the principles of excellence, leadership, and citizenship, we uphold a tradition of treating our clients’ challenges and opportunities as our own. What do you want to achieve? For the answers, please visit www.omm.com.Contact:
O’Melveny & Myers LLP