Allen & Overy Advised Mubadala On Strategic Investment In Newland Commercial Management
Allen & Overy (A&O) has recently provided legal counsel to Mubadala Investment Company (Mubadala) in its latest investment venture with Newland Commercial Management, a recently established investment holding company overseeing Zhuhai Wanda Commercial Management, which operates 496 large shopping malls throughout China.
The consortium involved in this substantial investment includes notable entities such as PAG, Trustar Capital, Ares, Abu Dhabi Investment Authority (ADIA), and Mubadala. Together, they injected approximately RMB60 billion yuan (USD8.3 billion), securing a combined 60% stake in Newland Commercial Management. Meanwhile, Dalian Wanda Commercial Management retains the remaining 40%.
This strategic move not only marks a substantial milestone in China’s commercial real estate sector but also stands out as one of the largest private equity transactions in recent years.
Partner Wayne Lee from A&O Shanghai expressed his satisfaction, remarking, “We are pleased to have represented Mubadala in this groundbreaking transaction. This investment underscores A&O’s capability to assist its clients in seizing opportunities that contribute to economic growth and development.”
Victor Ho, Head of Corporate in APAC, added, “This transaction represents a remarkable achievement for our team, handling complex matters for one of the firm’s key institutional clients. It demonstrates Mubadala’s confidence in our ability to represent them in their investment endeavors across Asia.”
The team, led by partner Wayne Lee at A&O Shanghai, received support from counsel Richard Ou at A&O Shanghai. Additionally, Rachel Ye, an associate at Shanghai Lang Yue Law Firm, the joint operation partner of A&O China, also played a vital role in this transaction.