Victor Li’s CK Asset Buys British Pub Chain For US$3.3 Billion
Hong Kong’s richest family is investing in U.K. pub operator Greene King.
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.
“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.