Hogan Lovells has advised real-estate developer Top Spring International Holdings on its disposal of interests in Top Spring Taihu Bay to Jian Hong Holdings for $88.3m (£57m).
The disposal includes Top Spring Taihu Bay’s entire equity interest in Changzhou Taihu Bay, a limited liability company established in the People’s Republic of China.
Changzhou Taihu Bay’s principal business is the development, operation, sales, lease and management of the ordinary commercial real estate on the land situated in Changzhou, Jiangsu province, China.
The proceeds from the disposal will enable Top Spring to improve its cash position through repayment of borrowings and allow the general working capital for other growth initiatives.
The Hogan Lovells team was led by Hong Kong-based partner Terence Lau and supported by associate Sheryl Cheung.