CK Asset Holdings to buy UK pub group Greene King

Brewer Greene King has agreed to be purchased by Hong Kong group CK Asset Holdings in one of the biggest UK-inbound deals of the year. Suffolk-based Greene King owns around 2,700 pubs, restaurants and hotels in total across the UK. The deal values the pub giant at £4.6bn, including net debt. In a statement to the stock market, Suffolk-based Greene King said CKA did not intend to “initiate any material headcount reductions within the Greene King organisation as a result of the acquisition”. The deal comes after rival UK brewer Fuller’s, which owns London Pride, sold its drinks business to Japan’s Asahi. Last month, Stonegate Pub, which owns the Slug and Lettuce chain, bought Ei Group for £1.3bn. CK Asset Holdings was founded by Hong Kong billionaire Li Ka-Shing, whose business empire includes the London headquarters of UBS. The firm has also previously held talks to buy into Capital & Counties’ beleaguered Earls Court Scheme. To send feedback, e-mail anna.ward@egi.co.uk or tweet @annaroxelana or @estatesgazette