Clifford Chance and Davis Polk & Wardwell took lead roles on China Life Insurance Co. and GIC Private Ltd.’s $1.4 billion joint investment in Chinese developer Joy City Property Ltd.
As part of the deal, Hong Kong-listed Joy City will form an investment fund for six of its mainland commercial and office properties and sell a 49 percent stake in the fund to China Life and GIC for $1.4 billion. Joy City will hold the remaining 51 percent in the properties and continue to manage the buildings.
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