7 September 2012
Clifford Chance advises SPARX on its US$500 million investment in Grandday Group
Leading international law firm Clifford Chance advised Dynamic Grand Limited, a company held by an investment fund managed by SPARX Asia Capital Management Ltd, on its US$500 million acquisition of a 49% stake in Grandday Group Limited from Chinese Estates Holdings Limited. Grandday is a holding company with interests in property developments in China.
Partner Neeraj Budhwani who led the team said, "We were very pleased to assist SPARX with their most recent transaction. Despite recent slowdown in the Chinese real estate sector, it continues to be an attractive industry for foreign investment."
Neeraj was assisted by senior associate Christina Hui and associate Nakisa Jobling. Partner Matt Truman and senior associate Andrew Husdan assisted with the financing aspects of the transaction.