Simpson Thacher Represents PAG in US$8.3 Billion Joint Investment in Newland Commercial Management
04.11.24
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The Firm is representing PAG in its announced joint investment, together with affiliates of CITIC Capital, Ares Management, the Abu Dhabi Investment Authority and Mubadala Investment Company, of approximately US$8.3 billion for a 60% stake in Newland Commercial Management (“Newland”). This transaction is the largest international private equity investment in China in the past five years.
PAG is a leading private equity firm focused on Asia-Pacific. Newland is a newly formed holding company of Zhuhai Wanda Commercial Management Group Co., Ltd., the world’s largest shopping mall management company which currently manages 496 large-scale shopping malls in 230 cities across China with about 70 million square meters of floor space under management, serving more than 100,000 commercial tenants.
The Simpson Thacher team includes Yang Wang, Amy Liu and Boli Chen.