Global law firm Clifford Chance is advising Edward Middleton and Tiffany Wong of Alvarez & Marsal Asia, in their capacities as liquidators of China Evergrande Group (In Liquidation) and CEG Holdings (BVI) Limited (In Liquidation), on the agreement to sell a controlling stake in Evergrande Property Services Group Limited to PAG.
The agreement will involve the sale of approximately 51.016% of Evergrande Property Services to Everest Holdings I Limited, an investment vehicle ultimately owned by PAG, for an aggregate consideration of approximately HK$4.03 billion, following a competitive sale process conducted by the liquidators. Completion is subject to regulatory approvals and other customary conditions, with Clifford Chance continuing to advise through to completion.
The Clifford Chance team is led by partner Alex Bidlake, with counsel Chloe Choy and senior associate Declan Ng advising on M&A aspects of the transaction. Partners Scott Bache and Phoebe Lo and associate Arthur Cheung are advising on liquidation aspects.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
