Something went wrong with the connection!

Green Light For CKA’s Acquisition of Greene King

 Breaking News

Green Light For CKA’s Acquisition of Greene King

Green Light For CKA’s Acquisition of Greene King
October 25
09:24 2019
Spread the love

The European Commission has approved, under the EU Merger Regulation, the acquisition of Greene King, the UK’s leading integrated brewer and pub retailer operating over 2,700 pubs, restaurants and hotels across England, Wales and Scotland,  by CK Asset Holdings of the Cayman Islands. CK Asset Holdings, which is active in property development and investment, hotel and serviced suite operation, property and project management, investment in infrastructure and utility asset operation, had made a recommended £2.7 billion cash offer for Greene King. Including debt, the enterprise value of the proposed transaction is approximately £4.6 billion.

The Commission concluded that the proposed acquisition would raise no competition concerns, because there is no horizontal overlap or vertical link between the activities of the companies. The transaction was examined under the simplified merger review procedure.

For the year ended 28 April 2019, Greene King reported revenue of £2.217 billion and its operating profit before exceptional and non-underlying items was £368 million. Profit before tax and exceptional and non-underlying items was £247 million and net profit before tax was £173 million.

Warning: count(): Parameter must be an array or an object that implements Countable in /home/fdbusiness/public_html/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

    Subscribe Here