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GRKGF - Li Ka-Shing Raises Fresh Glass To Diversification
Greene King Plc (United Kingdom)
By Breakingviews
Hong Kong's richest man is further diversifying his assets. CK Asset ([[CHKGF]]), the property vehicle a third-owned by Li Ka-shing, on Monday said it was buying UK pub group Greene King ([[GRKGF]]) for 4.6 billion pounds including debt. While that's a small beer for a man with a $28 billion fortune, it's still a minor thumbs-up of sorts for Brexit Britain and the opposite for the protest-ridden Fragrant Harbour.
At first, CK Asset's 850 pence-a-share offer looks dreamed up in one of its target's 2,730 pubs. It represents a 51% premium to Greene