Davis Polk is advising Sunac China Holdings Limited in connection with a proposed acquisition of shares in Kaisa Group Holdings Ltd. Pursuant to the terms of the share purchase agreement, Sunac has conditionally agreed to acquire approximately 49.25% of the issue shares of Kaisa for an aggregate consideration of approximately $584 million. The acquisition is subject to a number of conditions precedent, including the obtaining of shareholders’ approval. Davis Polk is also advising Sunac on its possible mandatory cash offer to the Kaisa shareholders of the remaining shares in Kaisa as a result of such acquisition, and the related debt restructuring.

Sunac and Kaisa are listed on the Hong Kong Stock Exchange and are both principally engaged in property development in the PRC.

The Davis Polk team includes partners William F. Barron, Paul Chow and Timothy Graulich, counsel-registered foreign lawyer Gerhard Radtke, counsel Margie Chan, associates Yang Chu, Darren S. Klein, Elly Tso and Wilson Chan and registered foreign lawyer Ying Su. Members of the Davis Polk team are based in the Hong Kong and New York offices.

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