AVIC Joy Holdings (HK) Ltd has acquired a building in Shanghai from Yin Hui Real Estate Development Co., Ltd for a US$251.6 million consideration, which will be settled in two installments.
AVIC Joy Holdings (HK) Ltd is incorporated in HK with limited liability and its shares are listed on the main board of the Hong Kong Stock Exchange. The group is principally engaged in the operation of compressed natural gas (CNG) and liquefied petroleum gas (LPG) refueling stations, management and operation of light-emitting diode and class 1 land development in China.
Shanghai Yin Hui Real Estate Development Co., Ltd is a sino-foreign joint venture company with limited liability established under the laws of the PRC. It is a project company which engages in property development in Shanghai. It is principally carries out commercial and office property development and operation in the western portion of Hui Shan Pier, Hongkou district, Shanghai.
The building is located on the north bound of the Huanpu River opposite the Lujiazui financial and trade area in Shanghai. The property is comprised of the building with office units and the parking spaces which together have an aggregate gross floor area of 16,352 m2.
Oaklins' team in Hong Kong acted as financial advisor to the buyer in this transaction.
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