Fangda Partners has advised the Hong Kong Airport Authority (HKAA) on its agreement to purchase a 35 percent stake in Zhuhai Airport for approximately $592 million, with King & Wood Mallesons representing the seller, Zhuhai Transportation.

This deal marks the largest foreign investment in a mainland airport in over a decade, since the sector was first opened to foreign capital.

Established in 1995, HKAA is a statutory body wholly owned by the Hong Kong SAR Government, responsible for operating and managing Hong Kong International Airport (HKIA). Zhuhai Airport, also inaugurated in 1995, has been jointly managed by HKAA and the Zhuhai Government since 2006. The new deal is expected to improve operational efficiency and introduce convenient transfer measures between HKIA and Zhuhai Airport.

Under the new agreement, HKAA’s operational management rights for Zhuhai Airport will be extended until 2046.

The Fangda team was led by partner Joe Zhou, with contributions from corporate/M&A partner Susie Shi, real estate partner Wendy Wang, and antitrust partner Wang Jin.

The KWM team, comprising King & Wood Mallesons and King & Wood Mallesons (Hengqin) Joint Operation Office, was co-led by Wang Jining and Tao Zhangqi. Partners Zhao Xiaohong, Tang Zhenyu, Liu Cheng, and Xing Meidong also contributed to the project.