International law firm Eversheds has advised Chow Tai Fook Enterprises Ltd on a RMB 2.36bn (US$932m)property deal to acquire 100 percent stake in a Qingdao-based joint venture from Shanghai Industrial Holdings Limited, a company listed on the Hong Kong Stock Exchange.

The joint venture looks at the residential and commercial land development of a 430,000 sq m area in Huangdao District, Qingdao, Shandong Province.

Chow Tai Fook Enterprises is a diversified, Hong Kong-based company engaged in the jewellery, property development, hotel, casino, transportation, port and telecommunications businesses.

The Eversheds Hong Kong office advised Chow Tai Fook Enterprises . Partner Stephen Mok, assisted by his corporate team members Kristie Law, Karen Wang and Gloria Chan, provided corporate advice on the deal. 

Stephen said:

“This is a very significant transaction for Chow Tai Fook Enterprises as it continues to expand and diversify its portfolio. We are proud of our relationship with the company and we worked tirelessly to ensure a smooth agreement, completed in a timely and professional manner.” 

In April 2011, the Hong Kong office advised Chow Tai Fook Enterprises on an US$518 million property deal involving the purchase of a 70 percent stake in Shanghai Four Seasons Hotel and a 90 percent stake of two land plots in the Qingpu district in Shanghai, from Shanghai Industrial Holdings Limited.