Slaughter and May is advising Wing Tai Properties on its disposal of Allied Effort

Slaughter and May is advising Wing Tai Properties Limited (Wing Tai Properties) on the sale of the entire issued share capital of Allied Effort Limited (Allied Effort), an investment holding company that indirectly holds the “W Square” property in Wanchai, Hong Kong.  On 2 February 2018, Wing Tai Properties announced that its wholly owned subsidiary had entered into a binding agreement with Top Sincerity Limited and Winland Group Limited in respect of the sale for a consideration of HK$2,848,800,000, subject to price adjustments.  The sale is a “major transaction” for Wing Tai under the Listing Rules of HKEx and is conditional on shareholders’ approval. Please see the announcement here.