Clifford Chance

Clifford Chance advises NWS on sale of shares in Macau power company

International law firm Clifford Chance has advised NWS in the sale, with its joint venture partner Suez Environnement, of their 38% indirect interest in Companhia de Electricidade de Macau – CEM, S.A., a power company in Macau with sole concession to transmit, distribute and sell high, medium and low voltage power in Macau, to a company controlled by the Macau based PRC central enterprise Nam Kwong Group Company Limited for US$612 million in May 2014. The transaction also involved a put option granted by the joint venture to a company owned by Dr. Ho Hung Sun, Stanley as an existing shareholder of the joint venture so that Dr. Ho may also co-sell his indirect interest in Macau Power.

"We were delighted to assist NWS on this significant transaction," said partner Cherry Chan who led on the deal.

Cherry was assisted by associates Paul Chan and Samuel Mai.

NWS Holdings Limited's infrastructure portfolio includes roads, energy, water and ports & logistics projects in Hong Kong, Mainland China and Macau.