Norton Rose Fulbright and Freshfields Bruckhaus Deringer are having the lead roles on a $4.8 billion deal that will see state-owned conglomerates Citic Ltd. and China Overseas Land and Investment Ltd. swap property assets and shares.
As part of a deal announced on Monday, China Overseas will acquire $4.8 billion worth of mainland Chinese residential properties from Citic. In turn, Citic will take a 10 percent stake in China Overseas and gain control of $940 million worth of commercial properties.
