Hong Kong. Nixon Peabody CWL represented Cornerstone Holdings Limited, a Hong Kong–based investment holding company, in its acquisition of the entire issued share capital and the shareholder’s loan of HKC Guilin Expressway Limited (a Hong Kong company) for a total sum of RMB332,110,000 (approximately HK$395,211,000). Cornerstone Holdings Limited, the parent company of China Merchants Holdings (Pacific) Limited, is a leading toll road company focused on investing in and managing toll roads in the People’s Republic of China (PRC).
HKC Guilin Expressway Limited, an indirect wholly-owned subsidiary of HKC (Holdings) Limited whose shares are listed on the main board of the Hong Kong Stock Exchange, holds the entire equity interest in a project company in the PRC. This project company was engaged in the construction and operation of a toll road in Guilin, a city in Southern China, on a build-operate-transfer contract.
Nixon Peabody CWL attorney Cheng Hoo led the deal team representing Cornerstone Holdings Limited.