CK Asset offers to buy UK social housing provider for US$612m

Property developer and investor CK Asset Holdings Ltd made a cash offer for the entire share capital of Civitas Social Housing PLC for 485 million pounds (US$612.12 million). 

CK Asset, which focuses on cash flow generating businesses in the property and infrastructure sectors, is offering 80 pence per share of the London-listed social housing provider, the Hong Kong listed firm said in a stock exchange filing late on Tuesday. 

"Underpinned by steady income and stable returns, Civitas Social Housing PLC fits well within our investment criteria and adds to our global real estate portfolio," said Chiu Yue-Seng, head of special projects of CK Asset, in a separate statement. 

The offer will be subject to shareholders' and regulatory approvals, including the Competition and Markets Authority in the UK. 

(Reuters)