Civitas Social Housing PLC is a real estate investment trust that holds assets including Specialist Supported Housing and Residential Care Houses for 18- to 65-year-olds with long-term learning disabilities or mental health issues provides accommodation for 20% of adults, providing them with the best quality of life in their communities, while saving the UK government a lot of money.
Opinion News:On June 23, Cheung Kong Industrial Group Co., Ltd. told Guandian New Media: “We are very pleased to have acquired more than 64% of the issued share capital of Civitas Social Housing. Due to the satisfactory response, we have decided to lower the level of voting rights in this transaction from 75% to More than 50%. This acquisition offer will continue for a period of time. At the same time, we will prepare for the administrative procedures for financial settlement.” said Ms. Li Side, manager of the corporate business development department of Cheung Kong Industrial Group Co., Ltd.
Mr. Zhao Rucheng, Director of Special Projects of CK Asset Holdings Limited, said: “The Group has been interested in the business of Civitas Social Housing for some time because of its financial and social significance. Add another asset with stable income and reliable returns to the group, and expand the group’s global real estate asset portfolio.”
Civitas Social Housing PLC is a real estate investment trust that holds assets including Specialist Supported Housing and Residential Care Houses for 18- to 65-year-olds with long-term learning disabilities or mental health issues provides accommodation for 20% of adults, providing them with the best quality of life in their communities, while saving the UK government a lot of money. In the UK, housing and care costs in professionally supported housing are 100% borne by the government.
Cheung Kong affiliate Civitas Investment Management has acted as investment advisor to Civitas Social Housing PLC real estate investment trust since its IPO.
Cheung Kong proposed to acquire Civitas Social Housing PLC at 80 pence per share in cash on May 9, 2023, which was 44.4% higher than the closing price of 55.4 pence per share on May 5, 2023, and was recommended by the board of directors of Civitas Social Housing PLC. The total consideration for this general acquisition is approximately GBP 485 million (equivalent to approximately HK$4.811 billion.)