Hong Kong's CK Asset spins off unit Aim Clever for $2.65 billion

(Corrects to remove paragraph on mainland China's property sector, as assets to be sold by CK Asset are based in Hong Kong)

:Hong Kong-based investment holding company CK Asset Holdings said on Wednesday it has divested its unit Aim Clever Holdings Ltd for HK$20.77 billion ($2.65 billion).

Aim Clever holds around 152 residential blocks in development in Hong Kong, CK Asset said, adding that ORIC-Borrett Ltd, indirectly owned by funds managed by Singapore-based wealth manager Sino Suisse Capital, will acquire the unit.

CK Asset, which is also a property developer, said it estimates a gain from the disposal of HK$6.3 billion, upon completion.

($1 = 7.8495 Hong Kong dollars)