UBS: Cenovus, under CKH HOLDINGS (00001), acquires Athabasca, expected to have a slightly negative impact on net asset value.

UBS released a research report stating that Cenovus, in which CKH HOLDINGS (00001) holds a 16% stake, announced the acquisition of Athabasca Oil through cash and stock. The bank estimates that this matter may have a slight negative impact of approximately 0.27% on CKH HOLDINGS' net asset value, and maintains CKH HOLDINGS' "Buy" rating and target price of HK$101. The bank noted that Cenovus accounts for approximately 9% of CKH HOLDINGS' net asset value, and its share price fell 3% after the acquisition announcement.