24 June 2009 – Mayer Brown and Mayer Brown LLP teamed up to advise Shui On Construction and Materials Limited (SOCAM) on the £250 million takeover of China Central Properties.
Lawyers from the Hong Kong and the London office of Mayer Brown advised SOCAM in its privatisation takeover of China Central Properties. SOCAM held approximately 43 per cent of China Central Properties' shares prior to the takeover.
China Central Properties Limited, a property investment company incorporated in the Isle of Man in February 2007 and listed on the AIM market of the London Stock Exchange in June 2007, focuses primarily on investing in medium to large partially completed property projects in major and secondary cities in the Chinese Mainland.
SOCAM is a company principally engaged in property, cement, construction and venture capital investment. It has business operations in over 15 cities and strategic areas in Hong Kong, Macau and the Chinese Mainland. SOCAM’s shares are admitted to trading on the main market of the Hong Kong stock exchange.
Andrew Sharples, partner at Mayer Brown’s London office said: “Since our combination with JSM a year ago, we have continued to demonstrate our strength in advising clients on complex cross border matters and were perfectly placed to advise on this takeover of an AIM listed company by a Hong Kong listed bidder.”
Andrew Sharples led the team in London, and Jacqueline Chiu led the team in Hong Kong.