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CK Asset gets shareholder nod for proposed £2.7B Greene King takeover

CK Asset Holdings Ltd.'s shareholders approved the Hong Kong-listed developer's proposed acquisition of all the shares it does not already own in Greene King PLC for £2.7 billion.

The property company said 2,733,654,373 votes, representing 99.39% of the votes cast during its Oct. 9 extraordinary general meeting, were in favor of the £8.50-per-share buyout proposal.

CK Asset noted that 16,811,724 votes, or 0.61% of the total votes cast, were against its takeover of the British integrated brewer and pub retailer.

Completion of the deal is subject to the satisfaction certain terms and conditions, including necessary approvals. CK Asset has previously said that once the takeover is finalized, it intends to delist Greene King's shares from the London Stock Exchange and the Financial Conduct Authority.