Slaughter and May advised PCCW Limited on its distribution in specie of shares in Pacific Century Premium Developments Limited

Slaughter and May, Hong Kong, advised PCCW Limited (PCCW) on its distribution in specie of shares in Pacific Century Premium Developments Limited (PCPD) and its simultaneous conversion of notes convertible into in PCPD shares in connection with the distribution.

Upon completion of the conversion and the distribution, PCCW’s shareholding in PCPD was reduced from approximately 71% to approximately 40%.