Liberum is acting as Joint Financial and Rule 3 Adviser and Joint Broker on the £485 million recommended cash offer for Civitas Social Housing plc

We are pleased to announce that Liberum is acting as Joint Financial Adviser, Joint Rule 3 Adviser and Joint Broker to Civitas Social Housing plc (“Civitas” or the “Company”) on the £485 million recommended cash offer (the “Offer”) for the Company by Wellness Unity Limited (“CK Bidco”), a subsidiary of CK Asset Holdings Limited (“CK Asset”).

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Civitas is a dedicated London listed REIT investing in social housing and healthcare-related sectors across the UK with the dual objective of achieving responsible financial returns and large scale measurable social impact. CK Asset is a multinational property holding company listed on the Hong Kong Stock Exchange.

The Offer, announced today, values each Civitas share at 80p and the share capital of Civitas (excluding treasury shares) at approximately £485 million. This represents a premium of approximately 44.4 per cent. to the closing price on 5 May 2023 and 45.5 per cent. premium to the one-month volume weighted average price prior to announcement of the Offer. In addition, shareholders will be entitled to receive and retain the quarterly dividend of 1.425p for the period to 31 March 2023.

Liberum is providing strategic, commercial, tactical, negotiating and regulatory advice to the Board of Civitas in relation to the Offer.

Liberum Team

Investment Banking       

  • (Client Team) Chris Clarke, Darren Vickers, Owen Matthews, Miquela Bezuidenhoudt
  • (M&A) Tim Medak, Mark Harrison

Sales - James Shields, Tom Biltcliffe

Legal - Rebecca Gordon

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