Hong Kong Developer Unit Buys Greene King For £2.7B

Law360 (August 19, 2019, 5:51 PM EDT) -- Hong Kong-based property developer CK Asset Holdings Ltd. said Monday a subsidiary has agreed to buy Greene King PLC in a deal steered by Clifford Chance LLP and Linklaters LLP that values the British pub operator and brewer's shares at roughly £2.7 billion ($3.28 billion).

According to a London Stock Exchange filing by CK Asset, the respective directors of Greene King and CK Asset intend to unanimously recommend that their shareholders vote in favor of the proposed deal, which the filing said also implies a roughly £4.6 billion enterprise value for the pub operator.

CK Asset said in the filing that...

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