Pub Operator Greene King Gets Regulatory Nod For Merger With Ka-Shing's Firm
Greene King Plc said on Thursday the European Commission has given the go-ahead for CK Asset, a Hong Kong-listed company founded by the territory's richest man Li Ka-Shing, to acquire the British pubs operator.
The offer by CK Asset, whose founder ranks among Asia's best-known entrepreneurs, valued the brewer of Old Speckled Hen and Abbot Ale at £4.6 billion ($5.92 billion) as CK aims to boost its UK presence.
The merger is expected to close on 30 October.
In August of this year, the brewer agreed to the bid from Hong Kong-listed CK Asset, which said it was seeking to increase its UK presence.