Shui On Construction and Materials (Socam) has completed its privatisation takeover of Aim-listed property investment company China Central Properties (CCP).
Holding approximately 43% of CCP’s shares prior to the takeover, Socam turned to a Mayer Brown JSM team for advice led by Jacqueline Chiu in Hong Kong and Andrew Sharples in London. Zhong Lun provided PRC law advice while Deutsche Bank acted as SOCAM’s financial adviser.
CCP instructed Bingham McCutchen with Jun He acting as PRC counsel. Sommerley Limited was independent financial adviser for CCP.
Socam is a company 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 mainland.
CCP focuses on investing in medium to large partially completed property projects in major and secondary cities on the mainland. It was incorporated in the Isle of Man in February 2007.