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Hong Kong's CK Asset to divest property assets for $2.65 billion

:Hong Kong-based investment holding company CK Asset Holdings has agreed to divest property assets for HK$20.77 billion ($2.65 billion).

CK Asset said on Wednesday its subsidiary would sell what it said was "the one and only issued share" in Aim Clever Holdings Limited, which indirectly owns assets such as 152 residential units in Hong Kong.

The disposal, which is estimated to result in around a HK$6.3 billion ($802.57 million) gain for CK Asset, followed the company's March announcement of a 729.17 million pound ($777.00 million) sale of stake in Bluebutton Holdco 5 Broadgate (Jersey), which holds property assets in London.

ORIC-Borrett Ltd, owned by a sub-fund of LC Vision Capital VCC, which is managed by Singapore-based asset management group Sino Suisse Capital, will buy the Aim Clever stake, a company filing on the stock exchange of Hong Kong said.

The deal is expected to be completed on 28 March, 2025, the earliest, the filing said.

($1 = 0.9384 pounds)

($1 = 7.8498 Hong Kong dollars)

Source: Reuters


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