Veolia takes over Hong Kong trams
May 09, 2009 | BY
clpstaff &clp articles &Veolia Transport China has entered into a 50-50 partnership with Wharf Transport Investments to operate Hong Kong Tramways. The terms of the agreement…
Veolia Transport China has entered into a 50-50 partnership with Wharf Transport Investments to operate Hong Kong Tramways.
The terms of the agreement dictate that Hong Kong Tramways will be equally owned by Wharf Transport, a subsidiary of Hong Kong-listed Wharf (Holdings), and Veolia Transport, a division of Veolia Environnement.
A recent editorial in Hong Kong newspaper The Standard speculated that Veolia was looking to expand its mainland China operations, using the Hong Kong tram acquisition as a starting point. The company already operates bus networks in Huaibei, Huainan and Nanjing.
Gide Loyrette Nouel was lead counsel for Veolia Transport, with partner Rebecca Silli leading. Pinsent Masons assisted with due diligence and Hong Kong aspects of the transaction, with partner Peter Bullock heading the team.
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