Chen Chang Wei and Eagle Fairway Limited entered into the sale and purchase agreement to acquire Cityplaza Three and Cityplaza Four Properties from Swire Properties Limited for HKD 15 billion on June 15, 2018. The consideration will be paid in cash HKD 1.5 billion is paid as deposit. HKD 1.5 billion will be paid on or before November 12, 2018. HKD 0.7 billion will be paid on or before January 26, 2019. Remaining HKD 11.3 billion will be paid on completion. The consideration received would be applied for the properties and loan which will be owed by properties to the seller as at completion, if any. The consideration is also subject to the final adjustment. For the year ended December 31, 2017, net rental income after taxation attributable to the properties was approximately HKD 286 million. The proceeds from the disposal will be applied towards the general working capital requirements of Swire Properties Limited. Post transaction Chen Chang Wei will own 51 percent and Eagle Fairway Limited will own 49 percent in target. The transaction is expected to complete in April 2019. As of October 25, 2018, the transaction is expected to be completed on April 11, 2019. Rico Chan and Debbie Cheung of Baker & McKenzie Hong Kong acted as legal advisers for Chen Chang Wei and Eagle Fairway Limited. Chen Chang Wei and Eagle Fairway Limited completed the acquisition of Cityplaza Three and Cityplaza Four Properties from Swire Properties Limited on April 11, 2019.