Ashurst acted for the founding shareholders of Greentown China Holdings Limited (Greentown China), a Hong Kong-listed property developer based in Hangzhou, China, on their conditional sale of 24.3% stake in Greentown China to China Construction Communications Group (CCCG) at a total consideration of approximately HK$6 billion. Upon completion, the founding shareholders (Mr Song Weiping, the existing board chairman, and Mr Shou Bainian, the existing chief executive officer) will retain an aggregate of 18.5% stake in Greentown China, while CCCG will be interested in 24.3% stake. Hong Kong-listed conglomerate Wharf holds another 24.3% stake in Greentown China.

CCCG is a wholly state-owned company established in the PRC and the controlling shareholder of China Communications Construction Co. Ltd., a company established in the PRC whose H shares are listed on the Stock Exchange. According to CCCG, it is the largest port construction and design company in the PRC, a leading company in road and bridge construction and design, a leading railway construction company, the largest dredging company in the PRC and the second largest dredging company (in terms of dredging capacity) in the world.

The Ashurst team was led by Hong Kong corporate partner Jonathan Hsui, assisted by other corporate team members including Justin Seto.