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People Victor Li’s CK Asset Buys British Pub Chain For US$3.3 Billion

Victor Li’s CK Asset Buys British Pub Chain For US$3.3 Billion

Victor Li
Victor Li
By Christian Gollayan
August 20, 2019
The multi-billion dollar deal is the company’s most expensive acquisition since Li Ka-shing’s eldest son, Victor Li, took over the family business in 2018

Hong Kong’s richest family is investing in U.K. pub operator Greene King.

On Monday, property developer CK Asset Holdings, which is run by Li Ka-shing’s son Victor Li, announced that it purchased the British conglomerate for $US3.3 billion.

Greene King operates more than 2,700 bars, restaurants and hotels across the U.K. In a press release, the Hong Kong-based company said that it was looking to invest in British businesses that are stable and resilient.

See also: Richard And Victor Li Team Up To Revamp 1881 Heritage

“The company believes that the United Kingdom pub and brewing sector shares these characteristics and that pubs will continue to be an important part of British culture and the eating and drinking-out market,” the statement said.

Shaun Tan, an analyst at Hong Kong brokerage firm UON Kay Hian, told Bloomberg that Victor has been looking into “giant acquisitions overseas” since taking the reins of the family business in 2018.

The multi-billion dollar deal with Greene King is CK Asset Holdings’ most expensive purchase since 2017, when the company acquired Australian energy provider Duet Group for US$5.6 billion.

See also: Li Ka-shing Donates HK$500 million To The Hong Kong University of Science and Technology For New Biology Research Lab


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