Suffolk based Greene King agrees £2.7 billion sale.

[Chippy_Tea]

Suffolk based Greene King agrees £2.7 billion sale to Hong Kong company

Greene King, which is based in Bury St Edmunds has agreed a £2.7 billion sale to Hong Kong real estate giant CKA

Greene King has 2,700 pubs, restaurants and hotels across the UK.

The company was founded in Bury St Edmunds in 1799 by 19 year-old Benjamin Greene

Shares in Greene King have surged after it announced the deal to sell its entire business to CKA Group.

CKA is a real estate group run by Hong Kong's richest family.

The deal offered a 51% premium on the value of shares in the brewer, which employs more than 38,000 staff.

The deal needs to be approved by Greene King shareholders. The directors are recommending they vote in favour.

CKA says it believes Greene King is well positioned to capture the opportunities which lay ahead.

Last updated Mon 19 Aug 2019

https://www.itv.com/news/anglia/201...agrees-2-7-billion-sale-to-hong-kong-company/

 

[the_quick]

Fullers gone, now Greene King. Shame really, wonder what lay ahead of us. We had really nice pub around here owned by Greene King, I hope it will not change much under new ownership

 

[Brew_DD2]

Greene King are utterly *****. Peddle horrible beer and still tie bars to them. I hope they are run into the ground. Good riddance.

 

[Clint]

...I personally don't like their beer but I wouldn't like to see all those people lose their jobs.
The potential buyers obviously haven't tried any yet...

 

[Horners]

I have never owned shares in my life but as the pub opposite work is GK me and a colleague bpught a load of GK shares a few weeks ago as shareholders with a certain holding get 25 per cent discount and when you are spending 100 a week in there that is better than any dividend yield.

Anyway since then the shares drifted slowly south until today where they have risen more than 50%. Ie got half my money back again.

Just hope this Chinese fella honours the discount vouchers.

 

[MyQul]

Just hope this Chinese fella honours the discount vouchers.

Im sure discount voucher were the deal breaker when they decided to pull the trigger on the buy

 

[lush]

Used to work on their drays, ipa is *****

 

[Llamaman]

...I personally don't like their beer but I wouldn't like to see all those people lose their jobs.
The potential buyers obviously haven't tried any yet...

They’re a property group. They’ll want to turn the pubs into flats anyway.
Serving terrible beer is probably a good way of making the sites uneconomic and convincing the council to grant change of use.

 

[Llamaman]

Greene King are utterly *****. Peddle horrible beer and still tie bars to them. I hope they are run into the ground. Good riddance.

To be fair, Abbot used to be ok back when I had to drink in GK pubs (7 years living in Cambridge). The Champion of the Thames was a favourite haunt and the Cross Keys did Abbot out of a small pin behind the bar too.
IPA (in all its iterations) is pond water, as is the London beer (I forget the full name) I once ordered in a moment of foolishness.

Oh, and Olde Suffolk was actually a really nice bottled beer IIRC (it was nearly 20 years ago...). I think they stopped making that recently. Says it all really.

 

[Llamaman]

Fullers gone, now Greene King. Shame really, wonder what lay ahead of us. We had really nice pub around here owned by Greene King, I hope it will not change much under new ownership

Don’t forget Young’s as well.
JV with Charles Wells, then sold their share of the JV. Now just a pubco.

 

[LeeH]

Used to work on their drays, ipa is *****

I didn’t know what a dray was until last month when I watched that London breweries documentary.

 

[Llamaman]

I didn’t know what a dray was until last month when I watched that London breweries documentary.

It’s a day that drrrrrrags on way too long. Usually involving back to back meetings where the host has invited people who have many ideas/opinions but not much of a clue or helpful contributions.