Slaughter and May advised the MTR - negotiations with the Hong Kong Government for further funding for proposed high-speed rail project linking Hong Kong and Mainland China
Slaughter and May advised MTR Corporation Limited in its negotiations with the Hong Kong Government on the agreement for the further funding of the proposed high-speed rail project linking Hong Kong and Mainland China. The structure involved the payment of a special dividend to all of MTR’s shareholders, including Government and the size of the special dividend receivable by the Government is approximately equal to the estimated remaining cost to complete the project.
The project is one of the most significant and complex infrastructure projects ever undertaken in Hong Kong and the further funding arrangements had to be structured in a way that satisfied the interests of the various stakeholders whilst enabling the project to be completed in accordance with the project timetable.
3 June 2016 update - this transaction was ranked in the 'Standout' category in the FT Asia Pacific Innovative Lawyers 2016 Report published on 3 June 2016.