Greene King to keep securitization unchanged as CK Asset takes over taps

Beer
By Karoliina Liimatainen, Tom Brown
20 Aug 2019

Chinese investment giant CK Asset Holdings has swooped into the European boom of public-to-private buyouts with the £4.6bn takeover of UK pub company and brewer Greene King. The investor intends to keep the pub chain’s securitization in place for the time being and not suck dividends out of the company, leaving bondholders happy.

CK Asset Holdings, an investment vehicle founded by Hong Kong’s richest man Li Ka-shing, offered a hefty 51% premium to Greene King’s closing share price on Friday, setting the pub chain an enterprise value of £4.6bn.

CK Asset’s offer followed quickly after another public-to-private takeover announcement in the ...

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