Li Ka-shing
In late 1980, an unknown party began buying up shares in Jardines. Many observers suspected that either Li Ka-shing or Sir Y K Pao, working alone or together, was attempting to purchase a large enough share in Jardine Matheson to win control of Hongkong Land. In November that year, then Taipan David Newbigging restructured Jardine Matheson and Hongkong Land by increasing their interests in each other and making it impossible for any party to gain control of either company. As a result, however, both companies incurred significant debt. The costs of fighting off Li Ka-Shing and Sir YK Pao forced Jardines to sell its interests in Reunion Properties.