DLA Piper and Clifford Chance have the lead roles on a $612 million deal which will see a Chinese state-owned company acquire a 38 percent stake in Macau’s sole power company.
State-owned Nam Kwong (Group) Co. Ltd. is acquiring its stake in Companhia de Electricidade de Macau-CEM S.A. indirectly, by purchasing a 90 percent interest in Sino-French Energy Development Co. Ltd. Sino-French, which was set up by a joint venture between Hong Kong’s NWS Holdings Ltd. and French water management company Suez Environnement S.A., owns a 42.2 percent stake in the Macanese power company.
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