Beijing Commercial Building Jia Qinglin’s daughter-in-law BVI material cover 2 billion
Li Botan, the daughter-in-law of the former Political Bureau of the Communist Party of China and former chairman of the Political Consultative Conference, Jia Qinglin, was involved in the leak of Panamanian documents two years ago and became the focus of Chinese and foreign media. “Financial Center” found that Li Botan, who was very low-key in recent years, reappeared in a listed company transaction. Hesheng Chuangzhan (754) announced last month that it will sell the joint venture to hold the rights of Beijing Commercial Building. The notice also disclosed that a British Virgin Islands registered (BVI) company will also sell the commercial interest, which is estimated to be at least 1.8 billion. Yuan (RMB. The same, discount contract of 2.04 billion Hong Kong dollars), this BVI is actually a big deal, according to the search information, it is Li Botan as a director.
Mainland businessman Zhu Mengyi’s Hesheng Exhibition, issued a notice on the 30th of last month, disclosed the sale of the Beijing Oriental Culture and Art Center office building rights. The Oriental Culture and Art Center project includes a concert hall, hotel and office building. It is located in Dongcheng District, Beijing. The office building of this transaction is held by the joint venture company.
The joint venture company is held by three groups of shareholders. One of them is a wholly-owned subsidiary of Hesheng Chuangzhun and the other is BVI Big Market Investments (BMI), each of which has the right to receive 45% of the proceeds. The remaining 10% of the proceeds are held by “other domestic shareholders”. However, the notice did not disclose the identity of BMI and other domestic shareholders.
Li Botan as a director company accounted for 45% of the proceeds
According to the circular, the company has implemented an estimated price of 1.95 billion yuan to sell its project interests, but the final price is yet to be confirmed. The price includes the equity held by Hesheng in the hands of about 1.5 billion yuan and the purchase price of 450 million yuan. The notice also disclosed that BMI will also sell the property rights on the hands to the same buyer.
The partner’s partner BMI is very promising. The Financial Center found that the BMI was registered in Hong Kong in the name of a non-Hong Kong company before the announcement of the birth notice in early November this year. The only director of the company is Li Botan, the son-in-law of former National Committee of the Chinese People’s Political Consultative Conference Chairman Jia Qinglin. Hold a Hong Kong identity card.
The documents filed by BMI in the Hong Kong Companies Registry are also signed by Li Botan personally. Since BMI is not a Hong Kong registered company, there is no need to open a register of shareholders. It is not known whether Li Botan is a shareholder of the company.
Hesheng has cooperated with Li Botan Company in 2006.
Li Botan’s participation in the development of the Oriental Culture and Art Center can be confirmed by the notice more than ten years ago. Hesheng announced in 2006 that from the company’s chairman Zhu Mengyi’s related company, it acquired about 60% of the equity of the project company that developed the Oriental Culture and Art Center. The notice disclosed at the time that Beijing Zhaode Real Estate held nearly 25% of the equity of the project company, and Beijing Zhaode Real Estate was the company of Li Botan.
Twelve years later, in the notice of the sale of the project, Hesheng did not mention Beijing Zhaode, but mentioned that the cooperative partner is a BVI company named BMI. Two 12-year notices also show that the proportion of project equity is not the same, and there may be changes.
Commercial building valuation of 4.5 billion people
The announcement of the joint venture last month showed that the office building project was valued at about 4.52 billion yuan. Although the notice did not disclose the price of the equity sold by BMI, both BMI and Hesheng were entitled to receive 45% of the proceeds from the project. The selling price of BMI’s equity is not far from the combined price of 1.95 billion yuan.
This time, it is no longer a match, and BMI is the first to sell the office building of the Oriental Culture and Art Center. Hesheng issued a notice last year that Hesheng and BMI will sell the shares of the joint venture company, but the transaction was pulled down at the beginning of this year. At that time, the notice disclosed in more detail that BMI’s share of the project’s equity was 1.826 billion yuan, including a value of 1.82 billion yuan and a shareholder loan of 7 million yuan.
According to the above information, Li Bingtan’s company BMI, which is a director, can now cash in between RMB 1.8 and 1.9 billion through transactions.
Hesheng and BMI sell Beijing commercial projects, and ultimately who will take over is unanswered. The newsletter last month only stated that the buyer was a Treasure Abundance Limited registered with BVI and a third-party company of Hesheng.
Buyer is BVI company Unidentified
The Financial Center has inquired about the details of the transaction and has not received any reply before the deadline.
In the past few years, the “official generation” of the Mainland has been repeatedly exposed through overseas offshore companies to control overseas business and property assets. In 2006, the Panamanian Offshore Company’s declassified documents were published by ICIJ, revealing the business activities of Li Botan and his daughter Li Zidan through BVI.
According to Panamanian documents, in December 2010, Li Zidan, who had just entered Stanford University, had already obtained the transfer of BVI shares for US$1 from Chairman of the Board of Directors of Hengdeli Holdings (3389) and Zhang Yuping, the watch king.
Was exposed through BVI and working with Evergrande
In addition, Li Botan will transfer the equity of a mainland company under the name of his daughter Li Zidan to the offshore company’s subsidiary, and then introduce the chairman of the mainland private enterprise Evergrande Real Estate (3333) to buy shares. The company hides the relationship between the two parties. The cooperation between Li Botan and Evergrande was not known until the Panamanian document was exposed.
Li Botan opened several companies in Hong Kong in the early 1990s. His wife was Jia Qinglin’s daughter Lin Qing (also known as Jia Wei). Li Botan graduated from Renmin University of Beijing. He worked as a trade officer in the head office of the Bank of China and a head of private bank Harlow Butler. Later in 2005, he participated in the establishment of Beijing Zhaode Investment and became the chairman of the board. The online information indicates that Zhaode’s business involves real estate. Energy and education. Li Botan is also an independent director of Guizhou Maotai (600519) and was accused of establishing the famous club “Maotai Club”.