Foxconn to Sell 50% Class A Stake in Cybertan Technology to SCPG
Hong Kong, New York and Shanghai – Paul Hastings LLP, a leading global law firm, announced today that the firm advised subsidiaries of Hon Hai Technology Group (“Foxconn”) on their disposition of an aggregate of 50% Class A stake in Cybertan Technology Corp. to an affiliate of SCPG Holdings Co., Ltd. (“SCPG”), and Foxconn’s formation of a joint venture with SCPG, for a development project in Hua Cao Town, Minhang District in Shanghai, China, which is planned for the building of a large-scale, high-quality shopping mall.
Headquartered in Taiwan, Foxconn is one of the leading electronics manufacturers and technological solution providers, focused on Consumer Products, Enterprise Products, Computing Products and Components and Others.
SCPG Holdings Co., Ltd., an affiliate of China Vanke Co., Ltd., is a leading shopping mall owner, developer and operator in China. Earlier in 2018, Paul Hastings advised on its formation of an offshore consortium with China Vanke and Triwater Asset Management for the RMB8.365 billion acquisition of a large-scale China real estate portfolio from CapitaLand Malls Asia Limited.
Paul Hastings has the leading Greater China real estate practice, and regularly advises international investors, developers and financial institutions on cross-border transactions, including fund formation, senior and mezzanine financings, joint ventures, and acquisition and disposition of various types of real estate.
The Paul Hastings team was led by New York corporate partner Mike Huang, Hong Kong real estate partner Paul Guan, and Shanghai of counsel Elyn He, with support from associate Eugenie Hui and China associates Cece Yang, Vincent Cheng, Janet Yuan and Samantha Yang.
At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.