Global law firm Eversheds advised New World China Land Limited (NWCL) on its acquisition of Penta Hotel Holdings Ltd for approximately €13.5 million.

NWCL is one of the leading large-scale national developers in Mainland China with total assets of HK$117.8 billion, its projects span over 25 large cities or major transportation hubs.

Penta Hotel Holdings Ltd manages a total of 24 Pentahotels across Germany, the United Kingdom, Belgium, Czech Republic and Austria.

The deal was multi-jurisdictional involving Eversheds Hong Kong office, with local advice provided by the firm’s German and Brussels offices. The Hong Kong team was led by Partner Stephen Mok, assisted by Associates Kristie Law and Kirstin McCracken and Legal Manager Ravenna Long. The German team was led by Partner Dr. Alexander Honrath, assisted by Partner Thomas Ziegler, Counsel Philipp Turnwald and the Associates Ulf Marhenke, Sabiene Wagner and Axel Listle.

Stephen Mok commented:

“NWCL is a longstanding client of the firm, who we have advised on several major deals in recent years, including one of the region’s largest value dim sum bond issues. This latest acquisition is a new and exciting venture for the company and we wish them every success.”

Alexander Honrath commented:

“This transaction is one of several Sino-German M&A transactions taking place at the moment, as the market continues to pick up activity. Our German China desk is currently advising around 25 different Chinese clients in the German market on various matters as cross border activity remains strong.”