(Bloomberg) -- An investment group backed by Hong Kong billionaire Li Ka-Shing agreed to buy U.K. brewer and pub operator Greene King Plc for 2.7 billion pounds ($3.3 billion).

The offer by CK Asset Holdings Ltd. is equal to 850 pence a share, a premium of about 51% to Greene King’s closing price on Friday. The British company’s shares surged on Monday to as much as 865.8 pence.

The deal follows Anheuser-Busch InBev NV’s sale of Australian beer assets to Asahi Group Holdings Ltd. in a deal valued at about $11 billion. The Japanese company also recently acquired the beer business of Fuller, Smith & Turner Plc.

To contact the reporter on this story: Thomas Buckley in London at tbuckley25@bloomberg.net

To contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, John Lauerman

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