SOHO China Ltd., one of the major real estate developers in China, announced on November 18, 2009 that its wholly-owned subsidiary Shimmer Win had reached an agreement to acquire all equity interest of a company holding “Nexus Centre” in Beijing. The consideration for the acquisition is USD equivalent of RMB 1.29 billion, plus an assumption of existing debt of RMB 1.05 billion.
Professionals from Zhong Lun Law Firm, including partners Hao Han, Zeng Zanxin, senior counsel Simon Cheong, associates Xiong Dezheng and Wen Na, advised SOHO China Ltd. on the acquisition.
The building is a completed 37-storey grade-A commercial and retail complex located in East Third Ring Road adjacent to both Beijing CBD and Sanlitun.in Beijing. SOHO China Ltd. will rename it as “SOHO Nexus Centre” after completion of the acquisition.