HK's CK Asset offers to buy UK social housing provider for $612 mln (updated)
10/05/2023 02:38
(Add details, CK Asset comment)
HONG KONG, May 10 (Reuters) - Property developer and
investor CK Asset Holdings Ltd 1113.HK made a cash offer for
the entire share capital of Civitas Social Housing PLC CSH.L
for 485 million pounds ($612.12 million).
CK Asset, which focuses on cash flow generating businesses
in the property and infrastructure sectors, is offering 80 pence
per share of the London-listed social housing provider, the Hong
Kong listed firm said in a stock exchange filing late on
Tuesday.
"Underpinned by steady income and stable returns, Civitas
Social Housing PLC fits well within our investment criteria and
adds to our global real estate portfolio," said Chiu Yue-Seng,
head of special projects of CK Asset, in a separate statement.
The offer will be subject to shareholders' and regulatory
approvals, including the Competition and Markets Authority in
the UK.
($1 = 0.7923 pounds)
($1 = 7.8489 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by Jacqueline Wong)
((donny.kwok@thomsonreuters.com; +852 2843 6470;))