Another Nonproperty Acquisition Following the Name Change
Cheung Kong Properties, or CKP, has announced that it will form a joint venture with CKI to acquire Ista, a European company in the submetering business. CKP will account for 65% of the joint venture, with CKI contributing the remainder. This is CKP’s fourth acquisition outside the real estate sector since late 2016. We have adjusted our assumptions for the company’s land acquisitions in Hong Kong and China to reflect its continued migration away from its property development businesses. We main...
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