CK Asset Holdings Ltd.'s proposed £2.7 billion takeover of British pub operator Greene King PLC has been approved by the European Commission, according to an Oct. 17 filing to the London Stock Exchange.
The EU's approval comes about a week after CK Asset's shareholders have given the green light to the acquisition.
Under the plan, the Hong Kong-listed property company will purchase Greene King through its CK Noble (UK) Ltd. subsidiary for £8.50 per share.
Completion of the deal is now subject to court sanction, with a sanction hearing scheduled Oct. 29.
Upon closing of the transaction, CK Asset will delist Greene King's shares from the London Stock Exchange and the Financial Conduct Authority.