Slaughter and May advising Wing Tai Properties and Nan Fung International - sale of Property Sky Limited to Jingrui Holdings

Slaughter and May is advising Wing Tai Properties Limited and Nan Fung International Holdings Limited (the Sellers) in relation to the proposed sale of the entire issued share capital (and related shareholder loans) of Property Sky Limited to Natural Apex Limited, a wholly-owned subsidiary of Jingrui Holdings Limited. Subject to certain customary adjustments, the aggregate consideration for the sale of the shares and the related shareholder loans is approximately HK$915.6 million. The Target holds certain interests in a property known as "Upper Riverside" in Pudong, Shanghai.

Wing Tai Properties is listed on the Hong Kong Stock Exchange and its principal subsidiaries are engaged in property development, property investment and management and hospitality investment and management. Nan Fung International Holdings Limited’s principal subsidiaries are engaged in property development, property investment, property construction, property management and financial investment. Jingrui Holdings Limited is listed on the Hong Kong Stock Exchange and its group is principally engaged in the property development business in the PRC.