t ransact ions hsBc BANk plc AcQuIrEs cAmBrIDgE
WAtEr plc hsBc Bank plc, a wholly-owned subsidiary of hsBc holdings plc, has acquired cambridge Water plc from ckI uk Water limited, an indirect wholly-owned subsidiary of cheung kong Infrastructure holdings limited (ckI), for a total consideration of £74.8m (approximately hk$958.9m). HSBC acquired Cambridge Water to
facilitate CKI’s participation in a consortium offer to acquire Northumbrian Water PLC. CKI disposed of its interest in Cambridge Water due to the restrictions under applicable regulation on ownership of a significant interest in more than one regulated water utility in the UK. CKI UK Water Limited is a private
company limited by shares and incorporated in the UK. It is an indirect wholly-owned subsidiary of Cheung Kong Infrastructure Holdings Limited.2. Cheung Kong Infrastructure Holdings Limited HSBC Holdings plc, the parent company
of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 7,500 offices in 87 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,691bn at 30 June 2011, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’. Bircham Dyson Bell was involved in the
transaction on behalf of Cambridge Water, led by John Hurdley, a Partner in the Government and Infrastructure Department. fi
cANArY WhArf group plc IN JoINt vENturE QAtArI DIAr rEAl EstAtE
INvEstmENt compANY canary Wharf group and Qatari Diar have entered into a 50:50 joint venture, contributing £150m each to secure the 5.25 acre site on a 999 year lease. the canary Wharf group £150m element of the consideration is being satisfied from existing corporate resources. the aggregate £300m payment for the site is conditional on planning permission being received for the project within three years. canary Wharf group will act as the construction manager for the project and will also be Joint Development manager with Qatari Diar. for these roles, fees will be generated for the transaction and apportioned between the parties based upon their broad level of contribution.
Discussions will now commence with
local planning authorities and relevant stakeholders to establish planning consent, detailed designs and a timetable for construction for a project that will re-energise an important section of the South Bank.
George Iacobescu CBE, Chairman and
Chief Executive of Canary Wharf Group plc said: “The South Bank is one of London’s best loved places. It is both a privilege and a great responsibility to be involved in this redevelopment project which will re-energise a key part of this area of London. We look forward to working with our partner Qatari Diar, the local community and with Shell to enhance the London economy and the vibrancy of the South Bank.”
Mayer Brown advised Canary Wharf
Group plc on the transaction, led by Real Estate partner Jeremy Clay with Real Estate partner Anita Jones and senior associates Caroline Humble and Iain Roberts. fi
25
chINA shANshuI cEmENt group lImItED
sENIor NotEs offErINg on 15 July 2011, the china shanshui cement group ltd. and the subsidiary guarantors entered into the purchase Agreement with Boc International, credit suisse, Deutsche Bank and uBs in connection with the issue of cNY 1,500,000,000 6.50 per cent senior Notes due 2014. the estimated net proceeds of the Notes Issue, after deduction of underwriting discounts and commissions and estimated offering expenses, will amount to approximately cNY 1,480,000,000 and the company intends to use the net proceeds from the Notes Issue for refinancing its existing borrowings and for general corporate purposes. the company may reallocate the use of proceeds in response to future events or developments. China Shanshui Cement Group Limited engages in the manufacture and sale of cement and clinker primarily in the People's Republic of China. The company sells its cement products under the Shanshui Dongyue brand name for use in construction works for roads, bridges, housing, and various construction projects. It also involves in the mining, storage, and sale of limestone; production and sale of cement packaging materials; installation of equipment and spare parts of cement machines; development, manufacture, sale, and technical support of cement related equipment; sale of coal; sale and repair of tires; and provision of logistics, consultation, and transportation services. The company was incorporated in 2006 and is based in Jinan, the People's Republic of China.
Shearman & Sterling represented the
initial purchasers on this transaction, led by Partner Kyungwon (Won) Lee. fi
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www.finance-monthly.com
OCTOBER 2011
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