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UK: Hong Kong billionaire to buy pub group Greene King

By  |  August 19, 2019

Hong Kong’s richest family is to buy the 220-year-old pub and beer company Greene King for £2.7bn, the equivalent of £1m for every one of its 2,700 pubs, restaurants and hotels.

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    The deal adds to the vast stable of UK businesses that are part of the sprawling global empire controlled by Li Ka-shing, the 91-year-old multibillionaire who also owns pharmacy chain Superdrug and mobile operator Three.

    It also marks the second time this year that a time-honoured British brewer has been snapped up by an Asian buyer, after Fuller’s was sold to Japanese drinks giant Asahi for £250m.

    The deal will see CKA capitalise on a surge in the popularity of the brewer’s flagship beer Greene King IPA in mainland China. Sales soared there after President Xi Jinping was pictured drinking a pint of the brew with then prime minister David Cameron during a state visit in 2015.

    Full Content: The Guardian

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