Han Kun has acted as PRC legal counsel to JD Property Group Corporation ("JD Property") in its acquisition of China Logistics Property Holdings., Ltd. ("CNLP", previous stock code: HK.1598). The take-private acquisition deal began with JD Property acquiring the equity interests of CNLP's primary shareholder and was followed by mandatory conditional cash offers and compulsory acquisition. CNLP was officially delisted from The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange", or "HKEX") on July 15, 2022.
It is reported that the transaction is:
■ Largest ever takeover of a HK-listed real estate company by a third party;
■ Largest privatization in HK by a third-party in the last 5 years; and
■ Largest mandatory general offer transaction in Hong Kong in the last 14 years.
JD Property is a subsidiary of JD.com, Inc. and the infrastructure, asset management and integrated service platform within the group. Through infrastructure property development, asset management, and diversified value-added services, the company provides integrated solutions for the construction and operation of infrastructure, such as modernized standard warehousing, intelligent industrial parks, data centers, and photovoltaic energy supply, for its business partners in various industries.
