26 April, 2016, Evergrande Real Estate Group Limited ("Evergrande Real Estate") has successfully acquired China Calxon Group Co., Ltd. (Calxon, stock code: 000918), through which Evergrande Real Estate obtained its first A-share financing vehicle in the domestic capital market. In the transaction, Evergrande Real Estate purchased approximately 952 million shares in Calxon from Zhejiang Commercial Group Co., Ltd., Zhejiang Guoda Group Co., Ltd. and Hangzhou Iron and Steel Group Company, accounting for approximately 52.78% of its total issued share capital with a total value of RMB3.609 billion. Meanwhile, Evergrande Real Estate provided tender offer for all other listed tradable shares of Calxon.

Evergrande Real Estate is China’s leading enterprise specializing in the modern large-scale real estate comprehensive development. It owns more than 400 large projects in more than 170 major cities nationwide. Calxon is a listed real estate company managed by Zhejiang SASAC (State-owned Assets Supervision and Administration Commission). Through the strategic integration with Calxon, Evergrande Real Estate expands its land reserves in the domestic market and further increases the proportion of projects in the first and second-tier cities. Moreover, it provided Evergrande Real Estate with access to both A-share and Hong Kong stocks financing vehicles, which offers adequate space for future capital operation.

King & Wood Mallesons (KWM) acted as the legal counsel to the acquirer, providing legal services for the transaction. The KWM legal team was led by partners Wang Lixin, Zhang Yongliang, Zhang Mingyuan, Jiao Fugang, Ye Guojun, Xiao Lan and Chen Xunan.