ICBC International Forms a Partnership with Sino Ocean for Acquisition of Ocean Office Park (Beijing) at RMB5.38 Billion
Hong Kong, Beijing and Shanghai – Paul Hastings, a leading global law firm, announced today that the firm advised ICBC International Investment Management Limited (“ICBC International”), the wholly-owned Hong Kong subsidiary of the Industrial and Commercial Bank of China Limited, on its formation of a partnership with Sino-Ocean Group, one of the largest real estate companies in China, for the acquisition from affiliates of Sino-Ocean of Ocean Office Park (Beijing), a Grade-A office building located in the core area of CBD, Chaoyang District, Beijing, the PRC, at a consideration of RMB5.38 billion.
Paul Hastings has a leading Greater China real estate practice, and regularly advises international investors, developers and financial institutions on cross-border transactions involving real estate in Greater China, including fund formation, joint venture, and acquisition and disposition of various types of real estate. Paul Hastings’ China real estate team has advised ICBC International on a number of fund formation, acquisition, financing, and strategic joint venture transactions in the real estate sector over the years.
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