Jiangsu seaport interest purchased by Rudong county government
April 14, 2011 | BY
clpstaff &clp articlesRudong Ritai Infrastructure Development & Investment (Rudong Ritai) has acquired US$230 million of equity interest in Rudong Yangkou Port Investment…
Rudong Ritai Infrastructure Development & Investment (Rudong Ritai) has acquired US$230 million of equity interest in Rudong Yangkou Port Investment & Development (Rudong Yangkou) from Glory Well Limited.
The buyer is a company wholly owned by the Rudong country government in Jiangsu Province, and the seller is a Hong Kong Stock Exchange-listed company, a subsidiary of PYI Corporation. Sino-foreign joint venture company Yangkou Port Investment & Development operates the facilities of the Yangkou Port, the sole deep-water seaport in Rudong.
A Shanghai-based Paul Hastinsg Janofsky & Walker team led by corporate partners Jia Yan and David Wang advised Rudong Ritai. The buyer's PRC counsel was Zhong Lun Law Firm. Glory Well was represented by JC Master Law Offices as to PRC law aspects.
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