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Disney Signs Agreement to Build First Mainland China Theme Park

The Walt Disney Company Limited signed a joint venture contract on November 5 with our client, the PRC state-owned enterprise Shanghai Shendi Group Co., to build its first mainland China theme park. Shanghai Shendi Group is a new company set by the Shanghai government and Paul, Weiss acted as its international counsel in its proposed cooperation with Disney in developing a Disney theme park in Shanghai, China. The Shanghai Disney theme park will be the first world-class and Disney branded resort encompassing Chinese and Shanghai characteristics in China. The joint venture, ten years in the making, still needs approval from the relevant government agencies.

It is a massively complicated transaction, and Paul, Weiss has been involved from the beginning. Over the decade many Paul, Weiss lawyers assisted on the transaction, and the team who finally helped the government to seal the deal in the past twelve months includes corporate partner Greg Liu; tax partner Jeffrey Samuels; intellectual property partner Charles Googe; and litigation partner Allan Arffa.

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