Clifford Chance Advised Red Star Macalline Holding on RMB6.3 billion Equity Sale
Clifford Chance, a leading international law firm, provided advisory services to Red Star Macalline Holding Group Company Limited for the sale of a 29.95 per cent equity interest in Red Star Macalline Group Corporation Ltd. to Xiamen C&D Inc. The transaction, valued at RMB 6.3 billion ($938 million), was executed based on a share purchase and sale agreement that was established at the beginning of 2023.
Hong Kong partners Christine Xu and Tommy Tam took the lead in overseeing the transaction, supported by Shanghai counsel Samson Chan, as well as associates Astrid Zhuang in Shanghai and Ryan Ho in Hong Kong.
Red Star Macalline Holding Group Co. Ltd., listed on the Hong Kong Stock Exchange, stands as one of China's major real estate developers, specialising in the operation of home improvement and furniture stores throughout the country.
The company's primary activities encompass the management of home improvement and furniture shopping malls, provision of home building and design services, sales of home decoration products, goods, and associated services. Additionally, Red Star Macalline offers a comprehensive range of services, including strategic advisory, home design advisory, and commercial real estate development.