CKA's Bid for Australia's APA Group Is Strategically Positive, but FVE Unchanged
CK Asset Holdings, or CKA, has announced that it is part of a consortium that submitted a nonbinding indicative proposal to acquire APA Group, an Australian utility company. We view the bid as positive, reflecting the company’s continued strategy of redeploying capital from real estate into other businesses offering stable yields. Given the elevated price level of Hong Kong real estate and a rising interest-rate environment, we believe reduced exposure to the Hong Kong property market is positiv...CK Asset Holdings and its subsidiaries are engaged in the property development and investment; hotel and serviced suite operation; property and project management; and aircraft leasing business.
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