CK Asset (1113) has proposed to acquire the entirety of London-listed real estate investment trust Civitas Social Housing for 485 million ( HK$4.8 billion) in cash. Civitas Social Housing's shares jumped 44.22 percent to 79.9 pence last night after the announcement. The deal would require the approvals of not less than 75 percent of the shareholders of Civitas Social Housing and the Competition and Markets Authority in the UK to complete, the filing said. Civitas Social Housing is the owner of specialized supported housing and residential care houses that are used to accommodate vulnerable adults aged 18 to 65 with long-term learning disabilities or mental health issues. The proposal came as CK Hutchison (0001) said its subsidiary CK Hutchison Group Telecom's first-quarter revenue inched up by 1 percent year-on-year to nearly EUR2.45 billion (HK$21 billion).
