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CK Asset's £2.7 Greene King buyout gets OK; GIC buys €530M Paris office tower

* The European Commission approved CK Asset Holdings Ltd.'s proposed £2.7 billion takeover of Greene King PLC. Upon closing of the transaction, CK Asset will delist Greene King's shares from the London Stock Exchange and the Financial Conduct Authority.

* Singapore's sovereign wealth fund GIC Pte. Ltd. bought the 40-story PB6 office tower in Paris for an undisclosed consideration. GIC will pay CNP Assurances SA €530 million for the 60,000-square-meter property that is fully leased to utility provider EDF, Mingtiandi reported, citing French media reports,

South Korea

* Brookfield Asset Management Inc. is investing an additional 475 billion won in its International Finance Center property in Seoul as part of a 2.28 trillion-won refinancing agreement, The Korea Economic Daily's Korean Investors reported. The new loan, which is provided by lenders including the financial arms of KB Financial Group Inc., Samsung Group and National Agricultural Cooperative Federation, has a five-year term.

Greater China

* Wah Ha Realty Co. Ltd. said it expects to post a loss for the six months ended Sept. 30, compared to a profit of HK$96.6 million profit in the prior-year period. The property company attributed the forecast primarily to fair value losses arising from the revaluation of investment properties, as well as a decline in property sales during the reporting period.

* China Evergrande Group commenced the sale of 174 flats at its Emerald Bay development in Tuen Mun, Hong Kong, with each unit priced between HK$3.62 million and HK$5.99 million after discounts, The Standard reported. CK Asset Holdings Ltd. is also expected to launch 88 units at its Seaside Sonata project in the city before Oct. 26.

* WeWork Cos Inc. agreed to lease four floors in Sun Hung Kai Properties Ltd.'s Nanjing International Finance Center Tower One for its first hub in the Chinese city, South China Morning Post reported, citing the coworking space provider. WeWork plans to have three hubs operational in the city by the end of 2019.

* Ronshine China Holdings Ltd. intends to boost its previous US$300.0 million offering of 8.95% senior notes due 2023 with an additional US$120.0 million issuance. The company expects to raise about US$123.2 million from the offering, with the net proceeds to be used for debt refinancing initiatives, according to a filing.

* Investments for real estate development across China in the nine months ended Sept. 30 grew 10.5% year over year, Reuters reported, citing data from the National Bureau of Statistics. Despite the increase, property sales in terms of floor area for the period dropped 0.1% year over year.

Australia

* Ho Bee Land Ltd. subsidiary Accordion Investments Pty. Ltd. is selling its 12.62% equity interest in Villa World Ltd. as part of Villa World's legally effective merger with Avid Property Group Australia Pty. Ltd. Ho Bee Land noted in a news release that the divestment is not expected to have a material impact on its financial results for the 2019 full year.

* LendLease Group sold the top three floors of the tallest of the three towers comprising its One Sydney Harbour development to an unnamed Australian resident, The Australian Financial Review reported, citing the property company. The two-level penthouse and the sub-penthouse apartment of the project is worth more than A$140 million, making it the most expensive home in Australia.

India

* Blackstone Group Inc.'s real estate and private equity investments in India reached US$12.6 billion after the private equity giant spent US$3.6 billion in the nine monthe ended Sept. 30, Mint reported, citing a person directly familiar with the development. By December, the company aims to grow its investments in the country to more than US$13 billion.

Southeast Asia

* Filipino developer Ayala Land Inc. expects to raise 17.7 billion pesos through sales from the 36.6-hectare first phase of its Alveo Land Inc. subsidiary's Broadfield development in Binan, Laguna, Philippines. Alveo pocketed approximately 2.8 billion pesos on the first-day launch of the sale of commercial units in the project.

* As planned, Tuan Sing Holdings Ltd.'s Superluck Properties Pte. Ltd. subsidiary issued S$200.0 million of 2.80% notes due 2022 on Oct. 18. Listing of the notes on the Singapore stock exchange is expected to take effect on or about Oct. 21.

The Daily Dose Asia-Pacific, Real Estate edition is updated by 6:30 a.m. Hong Kong time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.