Slaughter and May, Hong Kong, advised Swire Pacific and Swire Properties in relation to the joint investment into a property-holding target company in the People’s Republic of China by Swire Properties and Sino-Ocean Group Holding Limited (Sino-Ocean Group). Upon completion of the investment, Swire Properties and Sino-Ocean Group will hold 35% and 64.79%, respectively, of the equity interest in the target company. The total investment amount of the target company is RMB23 billion.
The principal asset of the target company comprises land use rights in respect of land parcels located near INDIGO, Beijing, a mixed-use development comprising a shopping mall, a Grade-A office tower and a hotel situated in Chaoyang, Beijing. It is envisaged that the land parcels will be developed into an office-led, mixed-use extension of INDIGO, Beijing with an expected total gross floor area of approximately 393,550 square metres (excluding car parks), and will comprise a shopping mall, office towers and a hotel.
Swire Pacific is listed on the Hong Kong Stock Exchange. Its subsidiaries, associates and joint ventures are engaged in property, aviation, beverages, marine services and trading and industrial businesses. Swire Pacific holds approximately 82% of the issued shares in Swire Properties.
Swire Properties is listed on the Hong Kong Stock Exchange. The principal activities of Swire Properties and its subsidiaries are property investment, property trading and investment in and operation of hotels.
Sino-Ocean Group is listed on the Hong Kong Stock Exchange. The business scope of the Sino-Ocean Group and its subsidiaries covers residential and integrated development, property development and operation, business collaboration and customer services.