Shanghai Rongdu Investment Co., Ltd., advised by a Shanghai-based Dacheng team, took over stake in Shanghai Ganshang Property Co., Ltd. held by Ganshang United Co., Ltd. and Jiangxi Guangchen Industrial Co., Ltd. with RMB390mln in cash. Shanghai Rongdu Investment Co., Ltd. would be the controlling shareholder of Shanghai Ganshang Property Co., Ltd. following the takeover.
The team led by senior partner Wu Chenyao from Dacheng’s Shanghai office conducted due diligence, drafted and reviewed legal documents, participated in negotiations and assisted in completion of shareholding rights transfer in relation to the takeover.
Due to a tight schedule and the risks arising out of the takeover of the project company recovering loans in advance and the general contractor bringing up lawsuits, the client required high expertise and efficiency from the part of the attorneys. Working under pressure, the team led by Wu nevertheless completed their tasks satisfactorily within the timetable and won commendation from the client.
Shanghai Ganshang Property Co., Ltd. is currently developing the No. 334 commercial building located in Yangpu District, Shanghai, which would cost a total of RMB2.05bn. With 160,470 square meters of floor space, the building would be another commercial and office hub at Wujiaochang Business District upon completion.
Beijing Dacheng Law Offices, LLP ("大成") is an independent law firm, and not a member or affiliate of Dentons. 大成 is a partnership law firm organized under the laws of the People’s Republic of China, and is Dentons' Preferred Law Firm in China, with offices in more than 50 locations throughout China. Dentons Group (a Swiss Verein) ("Dentons") is a separate international law firm with members and affiliates in more than 160 locations around the world, including Hong Kong SAR, China. For more information, please see dacheng.com/legal-notices or dentons.com/legal-notices.
