find the latest legal job
Senior Associate - Competition, Policy & Regulatory
Category: Other | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Work with a well regarded Partner · Sydney CBD
View details
Commercial Litigation Senior Associate
Category: Litigation and Dispute Resolution | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Lawyers Weekly Australia Partner of the Year 2016, Insolvency
View details
MULTIPLEX Regional Legal Counsel (Vic) | 7 to 10 years + PQE
Category: Generalists - In House | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Career defining in-house role · Tier One international contractor
View details
Junior Lawyer - Personal Injury Law
Category: Personal Injury Law | Location: Parramatta & Western Suburbs Sydney NSW
· Highly specialized practice · Challenging role with great opportunities
View details
IR Advisor/Member Advocate
Category: Industrial Relations and Employment Law | Location: St Leonards NSW 2065
· Permanent (0.8-1.0 FTE) role in a developing team
View details
Allen & Overy on tap

Allen & Overy on tap

International law firm Allen & Overy advised the world’s largest water company Compagnie Generale des Eaux (CGE) on the public tender of a 49 per cent stake in the Changzhou Municipal Tap…

International law firm Allen & Overy advised the world’s largest water company Compagnie Generale des Eaux (CGE) on the public tender of a 49 per cent stake in the Changzhou Municipal Tap Water (Group) Company. This was the conclusion of a 30-year concession agreement with the Changzhou Government, the formation of a Chinese-foreign water supply joint venture company and the conclusion of various ancillary arrangements.

The firm also advised CGE on the establishment of the acquisition vehicle, Veolia Water (Changzhou) Investment Limited, which is a joint venture between CGE and the Hong Kong-listed CITIC Pacific Limited, and finalised shareholder arrangements between the two groups. The 49 per cent stake was acquired at a price of RMB 450,470,000 (approximately $78,540,000).

Changzhou Municipal Tap Water operates five water treatment plants and associated pumping stations and piping networks in Changzhou, which has a population of 1.2 million, and has an aggregate daily treatment capacity of 790,000 cubic metres of tap water.

Corporate partner Kenneth Chan and banking partner Vicki Liu led the Allen & Overy team on the transaction, assisted by senior associate Michael McClean and associates Daniel Duan and Wilson Lo.

Liu said the concession agreement principles agreed by the Changzhou Government and CGE demonstrated the progress that Chinese government entities had made in recognising foreign investors’ need for contractual risk allocation in municipal water projects. “The concession agreement and ancillary documents produce, for all parties concerned, a predictable basis on which the City of Changzhou will receive long-term supply of treated water,” Liu said.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

Allen & Overy on tap
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Human body, illegal organ trafficking, ALHR
Sep 22 2017
Australia poised to combat illegal organ harvesting: ALHR
The Australian Lawyers for Human Rights are calling for changes to the law so that organ trafficking...
Online service, barristers, BarristerSELECT, Stephen Foley
Sep 22 2017
New online service leverages barristers’ clerks to aid briefing
A new online tool has been launched to help NSW solicitors find the most suitable barristers for the...
NSW District Court judge, Tim Gartelmann SC, next appointment,
Sep 22 2017
Silk replaces outgoing NSW District Court judge
A barrister has been named as the next appointment to the NSW District Court, following the retireme...
APPOINTMENTS
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
opinion
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
Help
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...