Hong Kong's richest family is to buy the pub and brewing group for £2.7bn, it has been announced.

CKA Group, which is owned by Li Ka-shing, will buy Britain's largest pub and brewing company which is 220-years-old.

The deal equates to £1m for every one of the company's 2,700 pubs, restaurants and hotels.

At the end of December 2015, Greene King reported that it was shipping 50,000 cases of India pale ale to China following a surge in demand after President Xi Jinping drank a pint of the beer with the then Prime Minister David Cameron on his state visit to the UK.

The Suffolk brewer and pub operator said demand for IPA from China had increased by 1,600 per cent after Xi's visit to Greene King's pub The Plough at Cadsden in October. 

But Nik Antona, CAMRA's national chairman said: "The news that Britain's largest pub and brewery company has been sold to an international asset company is very concerning for our beer scene.

"We are always wary of one company controlling a large share of the market, which is seldom beneficial for consumers. Greene King has been in operation for over 200 years and it is a very sad day to see such a well-known, historic and respected name exit the brewing and pub business.

"We hope that Greene King will continue its operations as normal without any disappointing changes. We will be calling on the new owners to retain the current pub portfolio to safeguard thousands of pubs and jobs across the country."

The news comes just a few weeks after it was announced Stonegate is to buy the Ei Group, making it the UK's biggest pub company.