Li Ka shing's third-generation successor? 95s granddaughter officially appears in the family | group | granddaughter
According to the Hong Kong Business Daily, the third generation of the Li Ka shing family, the richest man in Hong Kong, has made a low-key appearance. Li Side, the eldest daughter of Li Zeju, the chairman of Changhe Group, officially joined the family's listed company. Li Side, who is about 27 years old, has been appointed as the Business Development Manager of Changshi Enterprise. On June 23, he made his first public response to the group's acquisition project.
In May of this year, Changshi acquired Civitas Social Housing, a UK listed real estate investment trust fund, through its subsidiary WELLNESS UNITY LIMITED. The total acquisition price was approximately £ 485 million, which is a cash consideration of 80p per share. Changshi also proposed privatization. According to the UK Takeover Code, the acquisition offer is declared unconditional upon confirmation that the acquisition conditions have been met.
The press release issued by Changshi on June 23 specifically quoted Li Side's response, stating, "We are pleased to have obtained over 64% of the issued share capital of Civitas Social Housing. Due to the ideal response, the group has decided to lower the voting rights level of this transaction from 75% to over 50%. The acquisition is expected to continue for a period of time. At the same time, we will prepare for administrative procedures for financial settlement."
95s granddaughter quietly appears
According to Hong Kong Business Daily, Zhao Rucheng, the Director of Changshi Special Projects, added that the group has been interested in Civitas Social Housing's business for a period of time, based on its financial and social significance. The success of this comprehensive acquisition plan has further expanded the group's involvement in the industry, while also adding another asset with stable income and reliable returns to expand the group's global real estate asset portfolio. This news about Changshi's acquisition of Civitas Social Housing has long been confirmed without any new ideas. On the contrary, Li Siding quietly appeared, which attracted market attention.
Li Ka shing, who is 94 years old this year, has been retired from behind the scenes for a long time since May 2018. He has only served as a senior consultant for Cheung Kong Industries and Cheung Kong Hutchison Industries. In recent years, he has rarely attended public events and only occasionally appears at some charity events. His two sons, Li Zeju and Li Zekai, have long been on their own. Li Zeju is mainly responsible for the business of Changhe Department, while Li Zekai manages his own businesses of Fuwei Group and PCCW Group. As for the third generation members of the Li Ka shing family, due to their constant protection and minimal exposure, little is known to the outside world, and the number of photos available online is also very limited.
It is understood that the third generation of the Li Ka shing family has a total of seven members. Li Zeju and his wife Wang Liqiao have three daughters and one son. The eldest daughter Li Side, the second daughter Li Siying, the third daughter Li Yanrong, and the youngest son Li Changxi are all adults. As for Li Zekai, he has three sons with actress Leung Lo shih. The eldest son is Li Changzhi, and the second and third sons are twins, Li Changxuan and Li Changheng, who are still in the stage of education. Among the third generation members, Li Side, the eldest granddaughter, was temporarily the first to be exposed.
It is reported that after graduating from high school in Hong Kong, Li Side went to study in the UK, and his low-key style has not revealed any negative news. Until 2017, she graduated from King's College London and was led by her grandfather Li Ka shing to participate in a public event before appearing in front of the public.
In 2018, Li Side first participated in the family business, and in May of that year, she officially became a director of Cishan Temple. Cishan Temple is a temple in Tai Po, Hong Kong, located on the back of Pak Sin Ling and facing Tamsui Lake in Chuan Wan. It covers an area of approximately 500000 square feet and was built with funding from Li Ka shing in 2003, taking more than ten years to complete. The most distinctive feature of the temple is its huge statue of Guanyin, which was only opened to the public in April 2015.
At the end of 2018, Li Side also took on the main management role of the Li Ka shing family's private business. Zhaofeng Real Estate is Li Ka shing's private business, and since 2000, Li Ka shing, Li Ze ju, Li Ze kai's father and son, as well as another elder, have been serving as directors. The board of directors did not change for the first time in nearly 20 years until 2018, in order to appoint his granddaughter Li Side as a director.
Li Ka shing appears in Guangzhou
A few days ago, on June 19th, Li Ka shing appeared in Guangzhou. At that time, a transaction was underway between Changshi Group, a subsidiary of the Li Ka shing family, and Longguang Group and Hejing Taifu.
Guangzhou, where Li Ka shing parachuted, is the headquarters of Hejing, while Shenzhen, more than 100 kilometers away, Longguang has been operating in a stronghold for more than 20 years. The target of Changshi's hunting this time is Kai Yue, a luxury residential project jointly developed by Longguang and Hejing in Hong Kong.
According to Time Weekly, Kay Yue was purchased by the Longguang and Hejing joint venture for HKD 16.855 billion in 2017, setting a new record for land prices in Hong Kong that has been held for 20 years and once became the land king of Hong Kong. Five years later, Longguang and Hejing defaulted in fact, and Kaiyue became an important bargaining chip in the negotiations. Time Weekly learned that when discussing extension with creditors, Long Guang, He Jing, and Kai Yue were all highlighted. A billion dollar loan will bring multiple stakeholders to the negotiation table.
According to Bloomberg, Long Guang and He Jing once used Kai Yue as collateral to obtain a development loan of HKD 10.2 billion from banks such as HSBC. At present, the creditor consortium plans to sell most of the equity in this loan, and Chang Shi is one of the potential buyers.
"If Changshi Group takes away the project, it may lead to the failure of Longguang's overseas debt restructuring negotiations." An insider close to the transaction told Time Weekly reporters that Kaiyue is a very important lever for Longguang's overseas debt extension negotiations.
According to insiders, once the Li family of Changshi takes over the project, Longguang and Hejing will not receive the remaining value of the project after debt repayment, which will cause great damage to the two companies and may affect the debt restructuring of Longguang and Hejing, which will definitely have a great impact on the delivery of domestic projects by the two developers.
