Li Family: Hainan University and Brexit Chaos

li family: Though the company stressed that the deal was based on considerations for the UK company's attractive land assets and ability to generate cash, the move immediately revived lingering speculation about the Li family shifting its businesses from the Chinese mainland and Hong Kong to overseas, according to Global Times China. Liang Haiming, an economist at Hainan University, said that CK Asset made the deal most likely due to the cheaper price of the target as the pound depreciated sharply due to its Brexit chaos. On Monday, Hong Kong-based real estate developer CK Asset Holdings, which is controlled by the family of the city's richest man Li Ka-shing, announced that it had agreed to acquire Greene King, a pub chain and brewer in the UK, for 4.6 billion pounds 5.6 billion . CK Asset will also take over Greene King's debts. Since the Brexit referendum in 2016, the UK currency has depreciated about 18 percent against the Hong Kong dollar. According to some estimates, Li has unloaded assets in the mainland and Hong Kong worth nearly 200 billion yuan 28.33 billion over the past few years, while investing more than HK 400 billion 51 billion in the UK alone. Li has indeed withdrawn a large amount of money from the mainland and Hong Kong to invest in Europe and the US, particularly the UK, Liang said. (news.financializer.com). As reported in the news.