Harneys advised NWS Holdings Limited on acquisition of China logistics portfolio from Goodman
Harneys acted as British Virgin Islands and Cayman Islands counsel to Hong Kong-listed NWS Holdings Limited (“NWS”) for its acquisition of 100% interest in a portfolio of six premium logistics properties in Chengdu and Wuhan from Goodman China Logistics Partnership, an industrial and warehousing property fund managed by Goodman Group, for RMB2.29 billion (~US$340 million).
The acquired portfolio is strategically located in the western and central economic and transportation hubs in the Mainland. It consists of six premium logistics real estate properties with an aggregate gross leasable area of approximately 531,000 square meters, spanning across five completed projects, an ongoing project and a land parcel to be developed, which are part of the infrastructure, logistics, and transport services unit of New World Development. NWS expects that this acquisition will form the basis of its further expansion in the logistics industry in China and resonates with its vision in achieving long-term sustainable growth by seizing opportunities with strong cash flow and value accretion potential.
As instructed by Eversheds & Sutherland, the Harneys team, consisting of Hong Kong Corporate Partner Raymond Ng and Senior Legal Manager Nicholas Fong, provided legal advice. Commenting on the deal, Raymond noted that, “We are delighted to have supported our client NWS in expanding their logistics footprint in mainland China. Under the recently thriving e-commerce developments and booming multi-modal transportations, we are optimistic about customer demands in the area and are committed to providing first-class services to our clients as always.”
The corporate team at Harneys has substantial experience regarding all aspects of capital raising by offshore companies, including IPOs and secondary offerings, rights issues, equity linked securities, including convertible and exchangeable bonds, SPACs and business combinations, as well as private placements, take-privates, takeovers and spin-offs. The firm’s ECM expertise lie in advising entities listed or listing on all major stock exchanges, including the New York Stock Exchange, NASDAQ, the London Stock Exchange, AIM, the Hong Kong Stock Exchange, Shanghai Stock Exchange and the Luxembourg Stock Exchange.